[Brief Comment on Domestic Iron Ore Market] Iron ore concentrates prices in Shandong region may drop back slightly

This week, the mine-mouth price of 64%-grade alkaline concentrates in Shandong rose by 31 yuan/mt to 848 yuan/mt (dry basis, VAT excluded) on acceptance terms. Most mines and beneficiation plants maintained normal production as planned, with some reporting undersupply. Small mills and traders also reported strong sales. Steel mills demonstrated robust purchasing enthusiasm, contributing to active market transactions overall. This week, the futures market pulled back, and the index is expected to decline further by inertia. Imported ore prices may also retreat. Consequently, domestic iron ore concentrates prices in the region could be affected, with the overall price likely to drop back slightly. [SMM Steel]