[Domestic Iron Ore Brief Review] Iron Ore Concentrate Prices in Shandong Region May Fluctuate in the Doldrums

This week, the pre-tax acceptance price for 64-grade alkaline powder on a dry basis at mines and beneficiation plants in Shandong Province was 870 yuan, up by 2 yuan. Steel mills raised their prices simultaneously. As some miners had maintenance plans during the holiday, steel mills were relatively active in purchasing, engaging in pre-holiday stockpiling operations. Steel mills primarily restocked based on demand, with inventory mostly maintained at around seven days. Transactions by small mills and traders were relatively good, and overall market transactions were moderate. However, considering the recent weak performance of iron ore futures, which may affect local iron ore concentrate prices, local iron ore concentrate prices are expected to be in the doldrums in the short term. [SMM Steel]