[China Iron Ore Brief] Iron ore concentrate prices in Shandong region may remain consolidating

[SMM Domestic Ore Daily Brief]

This week in Shandong, the ex-mine dry-basis, before-tax, acceptance price of 64% grade alkaline iron ore concentrate from mines and beneficiation plants was reported at 810, down 13. Steel mills lowered their prices accordingly. Most miners produced normally, large mines sold smoothly, steel mills purchased actively, but small plants sold poorly, with inventory accumulating. The Linyi market was generally stable, but overall resources remained tight, providing strong support for prices. Coupled with the recent weak trend in iron ore futures, this may affect domestic concentrate prices. It is expected that local iron ore concentrate prices will likely remain in a consolidation phase in the short term. [SMM Steel]