[Domestic Iron Ore Brief Review] Iron Ore Concentrate Prices in Shandong Region May See a Slight Increase

In Shandong, the mine-mouth price for 64%-grade alkaline concentrates (dry basis, pre-tax, acceptance payment) was reported at 858 yuan, down 9 yuan. Steel mills simultaneously lowered prices. Most mines maintained normal production, primarily selling output as it was produced, with little inventory accumulation. However, the overall shipment pace slowed down. Local steel mills purchased under long-term agreements, while mills in Hebei mainly purchased as needed, with generally moderate procurement. Overall market transactions were relatively sluggish. Today, iron ore futures showed a stronger trend, which may drive up domestic concentrate prices. It is expected that local iron ore concentrate prices may see a slight increase in the short term. [SMM Steel]