[Domestic Iron Ore Brief: Iron Ore Concentrate Prices in West Liaoning Expected to Remain Volatile] Iron ore concentrate prices in west Liaoning remained relatively stable, with ex-factory prices for Fe66% iron ore concentrates on a wet basis, excluding tax, at 720-730 yuan/mt; Supply side, mines and concentrators have gradually resumed normal production, slightly easing the tight supply of local iron ore concentrates; Steel mills side, a leading local steel mill formulated its annual maintenance plan.

[Domestic Iron Ore Brief: Tangshan Region Iron Ore Concentrates Prices May Have Some Upside Potential] Iron ore concentrate prices in the Tangshan region edged up slightly, with the delivery-to-factory price for 66-grade dry-basis tax-included iron ore concentrates ranging from 1,000 to 1,010 yuan/mt. Local mining and processing operations gradually resumed production, while demand for low-grade products showed some improvement. However, the higher resource costs from Chengde flowing into the region supported the price hike mentality among low-grade producers in Zunhua. Overall, iron ore concentrate resources remained sluggish.

In 1960, the Australian federal government relaxed restrictions on iron ore exports, stimulating the development of exploration activities. In 1962, geologists from CRA discovered the Mount Tom Price iron ore deposit in the Pilbara region, after which Rio Tinto began constructing the Dampier port and the Mount Tom Price mine. In 1966, with the first shipment of iron ore transported from Mount Tom Price to Dampier port and exported to Japan, Rio Tinto's iron ore business embarked on a remarkable journey. Over the subsequent five decades, Rio Tinto's iron ore production in the Pilbara region grew from 1.4 million mt in 1966 to 329 million mt in 2024, with the 2025 production guidance ranging between 323 million and 338 million mt.

[Domestic Iron Ore Brief: Iron Ore Concentrate Prices in Liaodong Region May Edge Up] The domestic ore market in Liaodong remained generally stable, with no significant improvement in transactions. Due to the impact of environmental protection inspections by inspection teams, the operating rate of mines and beneficiation plants continued to be low, making it difficult to alleviate the recent tight supply of spot cargo. There is strong reluctance to budge on prices among mines and beneficiation plants, and most producers holding inventory maintained their previous high price demands.

[Domestic Iron Ore Brief: Iron Ore Concentrate Prices in West Liaoning May Have Some Upside Potential] Domestic iron ore prices in west Liaoning remained relatively stable, with the current ex-factory price of 66-grade iron ore concentrates (wet basis, tax-excluded) at 730-740 yuan/mt. Due to the military parade, transportation vehicles for explosives were previously subject to certain restrictions, affecting production at some mines and beneficiation plants. The overall supply of iron ore concentrates in the region continues to show a tight trend.