SMM Daily Comment On Domestic Iron Ore Market

SHANGHAI, Jun 29 (SMM) – The stalemate between sellers and buyers still exists in the western Liaoning iron ore market. Fe66% iron ore concentrates were sold at 750-760 yuan/mt (wet basis, excluding tax). Purchases have slowed down significantly towards the month’s end. Most beneficiation plants held offers firm, which are unacceptable to buyers. There is no clear news about mines resuming production. Given that most mines are in no rush to sell and traders have reduced inquiries, local ore prices may barely change in the near term.