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

The price of iron ore concentrates in west Liaoning has been in the doldrums recently, with the ex-factory price of 66-grade iron ore concentrates (wet basis, tax not included) ranging from 670 to 680 yuan/mt. Last week, an illegal mining accident occurred in the region, resulting in casualties. Consequently, local safety inspections have been tightened again, and some mines and beneficiation plants have reported that their production has been affected. The overall supply of iron ore concentrates in the region remains tight. Some local steel mills have incurred losses, and they may formulate production cut plans in the future. Their overall enthusiasm for purchasing domestic iron ore concentrates is moderate. The market is currently experiencing weak supply and demand in the short term. Coupled with the recent weak and volatile performance of the iron ore futures market, it is expected that the price of local iron ore concentrates will remain in the doldrums in the short term.