[Brief Review of Domestic Iron Ore Market] Iron Ore Concentrates Prices in West Liaoning May Rise Slightly

Iron ore concentrates prices in west Liaoning have slightly increased, with ex-factory prices (66% grade, wet basis, tax not included) at 710-720 yuan/mt. The intensity of local safety inspections has weakened, and mines that halted production earlier have gradually resumed production, slightly alleviating the tight supply trend in the short term. On the steel mills' side, purchasing as needed is currently the main approach. Recently, there have been market rumors about production restrictions on crude steel at local steel mills. However, according to SMM's current tracking, the possibility of production restrictions in the short term is low, which still provides certain support for local iron ore concentrates. Coupled with the recent strong trend in the iron ore futures market, it is expected that there will be some room for iron ore concentrates prices in the region to increase in the short term. [SMM Steel]