[Domestic Iron Ore Brief Review] Iron Ore Concentrate Prices in West Liaoning May Fluctuate at Highs

Iron ore concentrate prices in west Liaoning remained relatively stable, with Fe66% iron ore concentrates on a wet basis and tax-excluded ex-factory prices at 750-760 yuan/mt. Local iron ore concentrate supply remained relatively tight, and mines and beneficiation plants showed a strong reluctance to budge on prices, providing some support to local iron ore prices. Demand side, steel mill profits continued to shrink, with most purchasing as needed, leading to an overall market characterized by weak supply and demand. However, considering the recent strong performance of iron ore futures, which may drive up domestic iron ore concentrate prices, it is expected that local iron ore concentrate prices will continue to fluctuate at highs in the short term. [SMM Steel]