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

In west Liaoning, local iron ore concentrate prices have remained relatively stable, with ex-factory prices (excluding tax) for 66% grade wet-based iron ore concentrates ranging from 670 to 680 yuan/mt. Recently, local safety inspections have tightened, leading to a relatively tight supply of resources from mines and beneficiation plants. However, there is a strong bearish sentiment in the market, with most producers selling as they produce and showing reduced reluctance to budge on prices. On the demand side, traders are cautious in purchasing and mostly follow steel mill orders for procurement. Overall market transactions are currently average. Additionally, the recent volatile trend in the iron ore futures market suggests that local iron ore concentrate prices are likely to remain in the doldrums with volatile movements in the short term. [SMM Steel]