[Domestic Iron Ore Brief: Iron Ore Concentrate Prices in East Liaoning Expected to Remain in the Doldrums] Domestic ore prices in East Liaoning edged up by 10 yuan/mt. Local mine operations remain at persistently low levels, leading to tight spot cargo availability in the market. Coupled with steel mills' pre-National Day restocking expectations, sellers maintain a positive outlook, holding firm on high offers and showing reluctance to accept lower bids. However, steel mills, affected by weak sales of finished products,

[Domestic Iron Ore Brief: Iron Ore Concentrate Prices in Tangshan May Edge Up] The domestic iron ore market in Tangshan remained generally stable, with ex-factory prices for 66% grade iron ore concentrates on a dry basis, including tax, ranging from 1,005 to 1,010 yuan per metric ton. Some producers showed improved purchasing enthusiasm, and large mines saw better tender results. However, market transactions remained relatively weak, with no significant increase in inquiries from producers. The tight supply situation for low-grade resources is expected to become more pronounced.

[Domestic Iron Ore Brief: Iron Ore Concentrate Prices in West Liaoning May Fluctuate] Trading activity in west Liaoning was subdued, with iron ore concentrate prices edging up by 10-20 yuan/mt. The current delivery-to-factory price, tax included, for 66% grade iron ore concentrates on a dry basis stood at 740-750 yuan/mt. Most traders adopted a wait-and-see approach, with only a few making small purchases at suitable prices. Mines and beneficiation plants maintained a strong reluctance to budge on prices, with the majority operating with relatively low inventory, and some beneficiation plants having relatively small capacity.

[Domestic Iron Ore Brief Review: Tangshan Region Iron Ore Concentrates Prices May Fluctuate at Highs] The Tangshan domestic ore market remained relatively stable overall, with the delivery-to-factory price, tax included, for 66% grade iron ore concentrates (dry basis) at 1,005-1,010 yuan/mt. Local ROM and low-grade resources were tight and priced high, supporting high costs for beneficiation plants. Additionally, due to low inventory levels and flexible production at most plants,

Vale was one of the first companies in the world to export iron ore to China. Vale shipped its first shipment of iron ore to China in 1973. Since 2006, China has been Vale's largest market, accounting for approximately 50% of Vale's revenue and approximately 60% of its iron ore production. As of August 2023, Vale had supplied nearly 3 billion tons of iron ore to China. Vale China is located in Shanghai and has established blending facilities and processing plants in various regions and ports across the country.

[Domestic Iron Ore Brief: Iron Ore Concentrate Prices in Shandong May Continue to Rise] In Shandong, mines and beneficiation plants quoted the 64-grade alkaline powder at 868 yuan per dry metric ton, excluding tax and on an acceptance basis, down by 5 yuan. Steel mills followed suit with price adjustments, maintaining long-term agreement purchases. Domestic iron ore concentrate resources remain relatively tight. Procurement pace by steel mills in Hebei and local areas has accelerated compared to the previous period. Small mills and traders are selling at market prices, and overall market transactions are moderate.