[Domestic Iron Ore Brief] Iron ore concentrates prices in west Liaoning may consolidate on a subdued note

The trading atmosphere in the domestic ore market in western Liaoning remained sluggish. Traders were cautious about restocking, and with concerns about the market outlook, they showed a clear intention to push for lower prices when inquiring about cargoes. However, producers, given the high early-stage costs and the ongoing severe shortage of raw ore resources, found it difficult to replenish supplies at low prices. Without effective rotation of resources, most refused to make significant concessions on prices and chose to wait and see, keeping the standoff between the two sides ongoing. At the steel mill end, overall losses remained quite significant, and the intention to push for lower iron ore prices was relatively strong. Overall, the sentiment of sellers and buyers in the market was clearly locked in a standoff, and local iron ore concentrates prices are expected to consolidate on a subdued note in the short term. [SMM Steel]