[Brief Review of Domestic Iron Ore Market] Iron Ore Concentrates Prices in Shandong Region May Remain Stable

This week, miners in Shandong reported a price of 790 yuan/mt (down by 7 yuan/mt) for 64% grade alkaline concentrate on a dry basis, before tax, and on an acceptance basis. Steelmakers followed suit with price reductions. Most miners maintained normal production, and inventory levels at most miners declined, with a few dropping to around 10,000 mt, easing the pressure to sell. Small mills and traders primarily sold according to market conditions. However, imported ore still holds a cost-effectiveness advantage, and the futures market has been fluctuating, providing no strong support for domestic ore. Additionally, the recent trend in the iron ore futures market has been volatile. It is expected that local iron ore concentrate prices will remain stable in the short term. [SMM Steel]