[Brief Review of Domestic Iron Ore Market] Iron Ore Concentrates Prices in Shandong Region May Continue to Decline

This week, Shandong miners offered 64-grade alkaline concentrate (dry basis, pre-tax, acceptance) at a mine-mouth price of RMB 850, a decrease of RMB 15. Steel mills followed suit with price reductions. Most miners maintained normal production, but overall market transactions remained sluggish. Some mines and beneficiation plants experienced inventory accumulation, facing significant pressure to sell. Some steel mills were still undergoing maintenance and continued to operate with low inventory levels. The proportion of imported ore in their blends was relatively high, and domestic concentrate transactions were weak throughout the week. Looking at this week, influenced by the downward trend in the iron ore futures market, it is expected to have a negative impact on the prices of domestic iron ore concentrates. It is anticipated that iron ore concentrate prices may continue to decline in the later period. [SMM Steel]