[Brief Review of Domestic Iron Ore Market] Iron ore concentrates prices in Shandong region may continue to fluctuate

This week, the mine-mouth price of 64%-grade alkaline concentrates in Shandong region rose by 6 yuan to 830 yuan/dmt on a dry basis excluding tax and VAT, with steel mills adjusting their purchase prices accordingly. Miners maintained normal production, while steel mills' long-term contract purchases remained relatively stable. Small mills and traders mainly followed market trends, with overall transactions at a moderate level. However, looking ahead, the cost-performance ratio of local iron ore concentrates remains weaker compared to imported ore. Currently, steel mills primarily purchase as needed, and this trend is expected to continue for domestic iron ore concentrates. Local iron ore concentrate prices are likely to fluctuate within a narrow range. [SMM Steel]