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

The domestic ore market in western Liaoning Province was sluggish. Affected by the price-cutting efforts of local leading steel enterprises and the continuous weakness of the market, the ex-factory price of Fe66% iron ore concentrates (wet basis, excluding tax) in the region was 690-700 yuan/mt. Currently, traders lack confidence in the future market and have low sentiment for purchasing. Considering the limited profit margins, their offers are generally low. Mines and beneficiation plants, considering the relatively high cost support for iron ore concentrates, have temporarily halted shipments. Overall, market sentiment is weak. Additionally, steel mill profits have shown a weakening trend recently, and domestic purchases of iron ore concentrates are mainly on an as-needed basis. Considering the recent weak trend in the futures market for iron ore, it is expected that local iron ore concentrate prices may remain in the doldrums in the short term. [SMM Steel]