[Domestic Iron Ore Brief Review] Iron Ore Concentrate Prices in West Liaoning Expected to Remain Volatile

The domestic ore market in western Liaoning was relatively stable recently. The ex-factory price for 66% grade iron ore concentrates on a wet basis, excluding tax, was 730-740 yuan/mt. Traders' inquiry enthusiasm was average, while mines and beneficiation plants maintained a strong willingness to hold prices firm. Only a few adjusted sales according to market conditions. Steel mills primarily restocked at low prices, with little purchase willingness above their psychological price level. Operations among ore-holding mines and plants diverged: some with high-quality resources, facing no funding pressure, held firm with high offers; others, lacking confidence in the future market, sold at prevailing prices, but most had not accumulated significant inventory. Overall, market circulation resources remained tight. Coupled with recent volatile trends in iron ore futures, it is expected that local iron ore concentrate prices may maintain a fluctuating pattern in the short term. [SMM Steel]