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

In Shandong, the mine-mouth price for 64-grade alkaline iron ore concentrates (dry basis, tax excluded, acceptance payment) was quoted at 777 yuan/mt, down by 13 yuan/mt. Steel mills adjusted prices accordingly, while most miners maintained normal production. With current sales promotions, most miners could sustain a production-to-sales balance, with early-stage inventories reduced to around 10,000 mt, easing inventory pressure. However, the cost-performance ratio of domestic iron ore concentrates remains weak, with limited flows to Hebei. Steel mills continued low-inventory operations, maintaining stable long-term contract purchases, while overall procurement remained primarily as needed. Considering the recent rangebound fluctuations in iron ore futures, local iron ore concentrate prices are expected to remain rangebound in the short term. [SMM Iron Ore]