[Domestic Iron Ore Brief Review] Iron Ore Prices in West Liaoning May Continue to Fluctuate

West Liaoning, iron ore concentrate prices remained relatively stable, with Fe66% iron ore concentrates ex-factory prices (wet basis, excluding tax) at 720-730 yuan/mt. Supply side, mines and beneficiation plants have gradually resumed normal production, slightly improving the tight supply of local iron ore concentrates. Steel mills side, a leading local steel mill has formulated an annual maintenance plan, expected to last 40 days. However, overall local iron ore concentrate resources remain relatively tight, limiting steel mills' ability to drive down prices. In recent days, iron ore futures showed a strong trend, boosting sentiment among some mines and beneficiation plants. But considering declining steel mill profits, purchasing is mainly as needed. Short-term, local iron ore concentrate prices are expected to maintain current levels with fluctuations. [SMM Steel]