[China Iron Ore Brief] Iron ore concentrate prices in Shandong may consolidate.

This week, the 64% grade alkaline iron ore concentrates in Shandong, on a dry basis, pre-tax, and acceptance terms, ex-mine, were quoted at 802, down 8; steel mills similarly lowered prices; most miners were operating normally; after the short-term inspection impact ended, some miners ramped up production; long-term contract shipments dominated; miners' inventory accumulation was not obvious; smaller plants and traders had moderate shipments; in Linyi, some miners remained suspended, and tight local resources supported prices; however, imported iron ore prices fell more significantly, which was expected to have some impact on local prices; overall, it was estimated that in the short term, local iron ore concentrates prices may show a consolidating trend. [SMM Steel]