[Domestic Iron Ore Brief] Iron Ore Concentrate Prices in Shandong Region Expected to Remain in the Doldrums

In Shandong, the pre-tax acceptance price for 64%-grade alkaline iron ore concentrates on a dry basis ex-mine was reported at 873 yuan, up 19 yuan. Miners are operating normally, and purchasing enthusiasm from local and Hebei steel mills is relatively good, with stable long-term contract shipments. The overall market transaction atmosphere is moderate. Approaching the National Day holiday, steel mills have not intensified their overall restocking pace, mostly purchasing as needed. Some mines and beneficiation plants indicated that beneficiation plants may undergo maintenance during the holiday, and the overall iron ore supply remains tight. On the news front, the market heard today that CISA will hold an iron ore meeting on the 18th, which is interpreted as bearish. Overall, it is expected that domestic iron ore concentrate prices may remain in the doldrums in the short term. [SMM Steel]