[Domestic Iron Ore Brief Review] Iron Ore Concentrate Prices in Western Liaoning May Experience a Slight Decline

[SMM Domestic Ore Brief Review]
Trading activity in the domestic ore market in western Liaoning was sluggish, but current prices remain relatively firm. The ex-factory price for 66% grade iron ore concentrates on a wet basis, excluding tax, is 740-750 yuan/mt. Spot resources are currently tight, with high offers holding firm. Traders and steel mills are not under urgent pressure to restock and show weak purchase willingness at these price levels. Both buyers and sellers are mainly adopting a cautious wait-and-see approach. Considering that steel mill profits have been significantly compressed recently, coupled with the weak performance of iron ore futures, overall, local iron ore concentrate prices are expected to remain in the doldrums. [SMM Steel]