[Brief Review of Domestic Iron Ore Market] Iron ore concentrates prices in East Liaoning may fluctuate

The domestic ore market in eastern Liaoning remained generally stable. In recent days, the uptick in ore futures, coupled with cost support, has led to a notable sentiment for higher prices among mines and beneficiation plants. Sellers are reluctant to release cargoes below psychological expectations. However, the procurement prices offered by local leading steel mills are relatively low, and their affiliated trading suppliers have mostly suspended deliveries due to purchasing difficulties. For procurement prices from other steel mills, suppliers also have minimal profit margins. Market inquiries have remained scarce, resulting in relatively sluggish overall trading activity. The psychological tug-of-war between supply and demand parties is quite evident, and it is expected that local iron ore concentrate prices may exhibit volatile movements in the short term. [SMM Steel]