[Domestic Iron Ore Brief Review] Iron Ore Prices in Shandong Region May Edge Up Slightly

This week in Shandong, mines and beneficiation plants offered 64-grade alkaline iron ore concentrates at 882 yuan per dry metric ton, ex-mine, excluding tax, on an acceptance basis, up 8 yuan. Steel mills raised prices simultaneously. Most mines and beneficiation plants maintained normal production as planned, selling as they produced. Steel mills primarily purchased through long-term agreements, with moderate market transactions. This week, imported ore shipments remained high, and port inventory hit a new high for the year, putting pressure on ore prices. However, restocking expectations persisted, limiting significant price declines. Coupled with the recent strong performance of iron ore futures, local iron ore concentrate prices may rise.