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

The wait-and-see sentiment in the domestic ore market in western Liaoning is relatively strong, with ore beneficiation plants maintaining low operating rates. Operational facilities show low willingness to sell at discounted prices, while asking prices remain firm. The ex-factory price for 66% grade wet basis ore (tax-excluded) stands at 670-680 yuan/mt. Traders and steel mills also exhibit pronounced wait-and-see sentiment, with some steel mills expressing bearish market outlook and strong desire to bargain down prices. Current purchasing activities primarily follow a need-based approach, resulting in relatively sluggish overall market transactions. Overall, the psychological tug-of-war between supply and demand sides is evident, and local iron ore concentrate prices are expected to exhibit volatile movements in the near term. [SMM Steel]