[Brief Review of Domestic Iron Ore Market] Prices of iron ore concentrates in west Liaoning may have some room for upward adjustment

The domestic ore market prices in western Liaoning remained relatively stable, with the ex-factory price for 66% grade wet-base ore (excluding tax) at 710-720 yuan/mt. Mines and beneficiation plants showed strong willingness to hold back cargoes, with only a few considering capital turnover and selling at appropriate prices. Traders, taking costs into account and with sufficient inventory, exhibited low purchase willingness above psychological expectations. Currently, steel mills maintained normal production with unchanged daily consumption, primarily purchasing as needed, which supported market prices. Considering the recent rise in imported ore prices, the domestic ore market may be driven upward. It is expected that local iron ore concentrate prices will have some upward potential in the short term. [SMM Steel]