[China Iron Ore Brief] Iron Ore Concentrates Prices in West Liaoning Remained Relatively Stable

[SMM Domestic Ore Daily Brief]
The domestic ore market in western Liaoning showed no significant fluctuations. Currently, the ex-factory prices of 66-grade iron ore concentrates on a wet basis and tax-exclusive basis stood at 730-740 yuan/mt. Recently, steel enterprises in Tangshan, a linked region, slightly increased prices, and mines and concentrators held a strong bullish sentiment, with no willingness to sell below their psychological expectations. However, buyers maintained a cautious attitude toward the market outlook, keeping inquiries at low offers and primarily restocking on demand at acceptable prices. The wait-and-see sentiment in the market remained strong. Recently, iron ore futures trended on the stronger side, which may drive the local iron ore concentrates market. Local iron ore concentrates prices are expected to have some room for upward exploration in the short term. [SMM Steel]