[Domestic Iron Ore Brief] Iron Ore Concentrate Prices in Shandong Region May Remain in the Doldrums

In Shandong, the dry basis tax-exclusive offer for 64-grade alkaline concentrates dropped by 15 yuan to 874 yuan. Steel mills followed with price reductions. Some miners that had previously undergone maintenance resumed production, leading to a recovery in supply. However, a few miners experienced a decline in output due to shortages of raw ore. Currently, most mines and beneficiation plants maintain normal production. Entering next week, some may undergo annual maintenance, potentially tightening the overall market supply of circulating resources. On the demand side, steel mills mainly purchase as needed. The overall market is characterized by weak supply and demand. Considering the recent weak trend in iron ore futures, it is expected that local iron ore concentrate prices may remain in the doldrums in the short term. [SMM Steel]