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

The market trading atmosphere in west Liaoning has remained weak for consecutive periods. The ex-factory prices of local iron ore concentrates with a grade of 66 are 690-700 yuan/mt. Most traders are inquiring cautiously and showing low activity in purchasing, with only a few traders urgently needing to restock and making small purchases at appropriate prices. Currently, on the supply side, the scarcity of local ROM resources has not improved. Most ore processors are considering cost support and are hesitant to sell amid the market downturn, choosing to wait and see. Only a few have slightly softened their stance, slightly lowering their asking prices. On the demand side, steel mills are struggling to resist the interference of weakened demand during the off-season, adopting a cautious wait-and-see attitude towards the market outlook. Their purchasing speed has slowed down, and they are mainly purchasing as needed. Additionally, the recent weak performance of the iron ore futures market is expected to lead to a continued weak and volatile operation of local iron ore concentrate prices in the short term.