[Domestic Iron Ore Brief Review] Iron Ore Concentrate Prices in Shandong Region May Continue to Operate in the Doldrums

This week in Shandong, the pre-tax, dry basis, acceptance-paid ex-mine offer for 64%-grade alkaline concentrates stood at 882 yuan per tonne, up 11 yuan. Steel mills raised their prices in sync. Most miners maintained normal production with virtually no inventory buildup. Steel mills primarily purchased under long-term agreements, while procurement in Hebei slowed down slightly. Sales at small mills were average. This week, individual steel mills have maintenance plans, leaving room for demand to decrease, which weakens support for iron ore concentrate demand. Coupled with the recent weakening in iron ore futures, local iron ore concentrate prices are expected to be in the doldrums in the short term. [SMM Steel]