[Domestic Iron Ore Brief Review] Iron Ore Concentrate Prices in Shandong Region May Continue to Rise

In Shandong, the pre-tax acceptance price for 64-grade alkaline concentrates on a dry basis was reported at 868 yuan, down by 5 yuan. Steel mills followed suit with price reductions. Steel mills maintained long-term agreement purchases, and domestic iron ore concentrate resources remained relatively tight. Procurement pace by steel mills in Hebei and local areas accelerated compared to the previous period. Small mills and traders sold goods according to market conditions. Overall market transactions were moderate. As the National Day holiday approaches, steel mill restocking operations may intensify, which could further boost local iron ore concentrate prices. Additionally, the recent strong performance of iron ore futures may drive the domestic iron ore market. It is expected that local iron ore concentrate prices may still have some upward potential in the short term. [SMM Steel]