[Brief Review of Domestic Iron Ore Market] Prices of iron ore concentrates in west Liaoning may face the risk of weakening

In west Liaoning, domestic iron ore concentrate prices edged up by 10-20 yuan/mt, with the ex-factory price for 66%-grade wet-base (excluding tax) at 700-710 yuan/mt. However, the overall rebound fell short of expectations, and the price spread between Tangshan and local iron ore concentrates widened to 50-60 yuan/mt. Mines and beneficiation plants maintained normal production as planned but exhibited strong wait-and-see sentiment in shipments. Steel mills remained cautious in procurement, primarily purchasing as needed, with a persistent desire to bargain down prices. The market currently reflects weak supply and demand dynamics. Looking ahead, given the recent sharp rise in imported iron ore prices, a correction may occur, potentially leading to weaker local iron ore concentrate prices. [SMM Steel]