[Domestic Iron Ore Brief] Iron Ore Concentrate Prices in West Liaoning May Remain in the Doldrums

Iron ore concentrate prices in west Liaoning edged down by 10 yuan, with the current ex-factory price for Fe66% iron ore concentrates (wet basis, tax-excluded) at 745-750 yuan/mt. Recently, various inspections in the local area have been relatively frequent, impacting production at some mines and beneficiation plants, which has intensified the tight supply of local iron ore concentrates. On the steel mill side, affected by compressed profits, overall procurement remains relatively cautious, with a strong desire to bargain down prices, leading to sluggish market transactions overall. Considering the recent volatility in imported ore prices, it is expected that local iron ore concentrate prices may fluctuate in the short term. [SMM Steel]