[Domestic Iron Ore Brief] Iron Ore Prices in West Liaoning May Have Some Upside Potential

In west Liaoning, domestic iron ore prices are relatively stable. The current ex-factory price for 66% grade iron ore concentrates on a wet basis, excluding tax, is 730–740 yuan/mt. Due to the military parade, transportation vehicles for explosives were subject to certain restrictions earlier, which affected production at some mines and beneficiation plants. Overall, iron ore concentrate resources in the region remain tight. The impact on steel mills' overall production is relatively small, with most blast furnaces operating normally as planned, supporting demand for iron ore concentrates. In the past two days, iron ore futures have shown a strong upward trend, which may boost local trading enthusiasm for iron ore concentrates. Prices may still have some room to rise. [SMM Steel]