[Domestic Iron Ore Brief Review] Iron Ore Prices in West Liaoning May Continue to Fluctuate

In western Liaoning, domestic ore market prices are relatively stable, with Fe66% iron ore concentrates ex-factory prices on a wet basis excluding tax at 750-760 yuan/mt. Buyer inquiries are scarce, and market participants are mostly taking a wait-and-see stance toward prices, with a relatively strong willingness to hold prices firm. Demand side, steel mill profits have improved slightly recently, but steel mills are purchasing relatively cautiously, mainly purchasing as needed, resulting in sluggish overall market transactions. However, considering the recent strong performance of iron ore futures, which supports domestic market sentiment, it is expected that local iron ore concentrates prices may maintain volatile operations in the short term. [SMM Steel]