[Domestic Iron Ore Brief Review] Ore Prices in Shandong Mines and Beneficiation Plants May Remain Volatile

This week in Shandong, the mine-mouth price for 64%-grade alkaline concentrates (dry basis, pre-tax, acceptance) was quoted at 882 yuan per tonne, up 11 yuan. Steel mills raised their prices simultaneously. Most miners maintained normal production with essentially no inventory accumulation. Steel mills primarily made purchases under long-term agreements, while procurement in Hebei slowed slightly. Sales from small plants were average. Overall ore supply in the local mining and beneficiation sector remained relatively tight. Local steel mills faced significant profit pressure. This week, individual steel mills are expected to implement maintenance plans, weakening support for local iron ore concentrate demand. The market is experiencing a short-term supply-demand slowdown. Overall, local iron ore concentrate prices are expected to remain volatile in the near term. [SMM Steel]