[Domestic Iron Ore Brief Review] Iron ore concentrate prices in East Liaoning may be in the doldrums.

The domestic ore market in Liaodong remained generally stable. Influenced by the weak market trend in the Tangshan area, the current ex-factory price for 66% grade iron ore concentrates on a wet basis, excluding tax, was quoted at 740-750 yuan/mt. Traders' risk aversion sentiment intensified, with most adopting a cautious wait-and-see approach, and inquiries were accompanied by obvious efforts to drive down prices. Beneficiation plants, supported by costs, generally held prices firm, leading to sluggish overall market transactions. Currently, local beneficiation plants have not seen a significant rebound in operating rates, and short-term supply tightness continues to support ore prices. On the demand side, steel mills have a strong willingness to control costs and lack the impetus to actively raise purchase prices, leaving traders with limited room for maneuver. Offers continued to hover at low levels, constraining any rise in ore prices. Coupled with the recent weak trend in iron ore futures, it is expected that iron ore concentrate prices in the region may show a weak, range-bound trend next week.