[Domestic Iron Ore Brief Review] Iron Ore Concentrate Prices in West Liaoning May Have Some Upside Potential

The trading atmosphere in the domestic ore market in western Liaoning was sluggish. The ex-factory price for local 66% grade iron ore concentrates on a wet basis, excluding taxes, was 750-755 yuan/mt. Most mines and beneficiation plants maintained firm asking prices, but steel mills held some spot inventory and were not in a hurry to restock. There was currently no purchase willingness at this price level. Additionally, concentrate prices in linked regions edged lower, and steel mills overall had a strong desire to push for lower prices. Market transactions remained generally weak. On the imported ore side, iron ore futures showed a strong trend, which may stimulate local market transactions. It is expected that local iron ore concentrate prices may have some upward potential in the short term. [SMM Steel]