[Brief Review of Domestic Iron Ore Market] Iron ore concentrates prices in west Liaoning were in the doldrums

The price of iron ore concentrates in west Liaoning is in the doldrums, with ex-factory prices (66% grade, wet basis, tax excluded) ranging from 690 to 700 yuan/mt. Traders' risk-averse sentiment has intensified, and their inquiries are generally tepid. Mines and beneficiation plants have recently undergone tailings inspections, but the impact on local production has been relatively small. Currently, buyers in the market lack confidence in the future outlook, with steel mills primarily purchasing based on immediate needs. Additionally, ore futures are in the doldrums, and the cost-effectiveness of domestically produced iron ore is showing a weakening trend. It is expected that in the short term, the price of local iron ore concentrates may continue to be in the doldrums. [SMM Steel]