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

This week in Shandong, mines and beneficiation plants offered 64-grade alkaline concentrates at a dry basis pre-tax price of 887 yuan, up 5 yuan. Steelmakers raised prices simultaneously. Most miners maintained normal production, selling as they produced, with little inventory accumulation. Some individual maintenance activities were still ongoing. Purchasing was primarily as needed. Small plants and traders shipped goods according to market conditions, with some flowing into Hebei. Overall market transactions improved compared to the previous period. In the short term, the fundamentals remained weak on both supply and demand sides. However, considering the recent strong performance of iron ore futures, it may boost the local iron ore market. It is expected that local iron ore concentrate prices may have some room to rise in the near term. [SMM Steel]