[Domestic Iron Ore Brief Review] Iron Ore Concentrate Prices in Shandong Region May Show Volatile Fluctuations

In Shandong, the 64-grade alkaline concentrate dry basis pre-tax acceptance mine-mouth price was reported at 874 yuan/mtu, down by 27 yuan/mtu. Steel mills simultaneously lowered prices. Recently affected by local snowfall, miners' shipments slowed down. With expectations of price reductions from major mines, steel mills' purchasing enthusiasm has weakened compared to the previous period. However, current steel mill inventory remains at a low level. Recently, the cost-effectiveness of domestic iron ore concentrates has slightly improved, coupled with the approaching Chinese New Year, steel mills have an appropriate restocking demand. Overall market transactions have improved. However, imported ore prices have shown volatile trends recently. Domestic iron ore resources are tight, providing relative support, but upside room is expected to be limited in the short term. [SMM Steel]