[Brief Review of China's Iron Ore Market] Prices in West Liaoning May Continue to Fluctuate

Local iron ore concentrates prices in west Liaoning were relatively stable, with the ex-factory prices of 66-grade iron ore concentrates, wet basis and excluding tax, at 740-750 yuan/mt; recently, multiple departments including environmental protection, emergency response, and forestry jointly conducted inspections in Liaoning Province. According to SMM tracking, some small and medium-sized mines and beneficiation plants with incomplete procedures suspended production again, exacerbating the overall tightness of iron ore concentrates resources. Steel mills, currently mainly purchasing as needed, had a relatively strong desire to bargain down prices, and overall market transactions were relatively sluggish. The market was in a situation of weak supply and weak demand in the short term, and local iron ore concentrates prices were expected to fluctuate in the short term. [SMM Steel]