[Domestic Iron Ore Brief Review] Iron Ore Concentrate Prices in West Liaoning Expected to Remain Volatile

The supply and demand in the domestic ore market in western Liaoning remained deadlocked. The current ex-factory price for Fe66% iron ore concentrates on a wet basis, excluding taxes, was 750-760 yuan/mt. Local mines and beneficiation plants, taking cost support into account, maintained firm asking prices. However, buyers showed weak purchase willingness, mostly adopting a cautious wait-and-see approach, and were reluctant to purchase at these prices. Steel mills maintained a cautious stance on raw material procurement. Affected by weather factors, the moisture index of spot resources from some mines and beneficiation plants was relatively high. Overall market transactions were relatively sluggish currently. Considering the relatively firm trend in iron ore futures recently, it is comprehensively expected that local iron ore concentrate prices may maintain a volatile trend next week. [SMM Steel]