[Domestic Iron Ore Brief Review] Iron Ore Concentrate Prices in West Liaoning Expected to Remain Volatile

The domestic ore market in western Liaoning was generally stable. The current ex-factory price for 66% grade iron ore concentrates on a wet basis, excluding tax, was 730-740 yuan/mt. Mines and beneficiation plants showed relatively strong reluctance to budge on prices and a pronounced wait-and-see sentiment. In addition, the recent weak performance in iron ore futures has increased buyers' bearish outlook on the market. Steel mills have become more cautious in pricing and more determined to control and reduce costs, maintaining a strong overall desire to bargain down prices. However, considering the tight supply of domestic iron ore concentrates, there is some support for local ore prices. Overall, it is expected that in the short term, local iron ore concentrate prices may remain in the doldrums with fluctuations. [SMM Steel]