[Brief Review of Domestic Iron Ore Market] Iron ore concentrates prices in west Liaoning may be in the doldrums with volatile movements

[SMM Daily Commentary on Domestic Ore Market]
The market prices of domestic ore in western Liaoning remained generally stable. The ex-factory prices (excluding tax) for 66% grade wet-based ore were 705-710 yuan/mt. Most producers refused to budge on prices, but the downstream demand side was weak. Steel prices have been weak recently, and traders were cautious about inquiries due to concerns about the future market, with significant low offers. On the mines and beneficiation plants side, production at some mines and beneficiation plants has been somewhat affected recently due to land and safety inspections. The local iron ore concentrates resources remain tight, providing some support for local ore prices. Currently, steel mills are also mainly purchasing as needed. The market's sellers and buyers are still in a tug-of-war. It is expected that in the short term, the local iron ore concentrates prices will likely oscillate in the doldrums. [SMM Steel]