[Domestic Iron Ore Review] Iron Ore Concentrate Prices in Shandong Region May Experience a Slight Decline

[SMM Daily Review of Domestic Iron Ore]
This week, the offer for 64-grade alkaline iron ore concentrates from Shandong miners on a dry basis, excluding tax and with payment by acceptance, stood at 867 yuan per tonne, down 21 yuan. Steel mills' purchasing pace slowed slightly this week, but there was no significant inventory accumulation at major mines. Steel mills' current profits showed a clear contraction, leading them to purchase iron ore concentrates primarily as needed, resulting in an overall weakening of market transactions. Coupled with the recent weak performance in iron ore futures, domestic iron ore prices are expected to be affected. In the short term, local iron ore concentrate prices are likely to remain in the doldrums. [SMM Steel]