SMM Daily Comment On Domestic Iron Ore Market (Sep 21)

SHANGHAI, Sep 22 (SMM) – The supply of iron ore concentrate in Liaodong was still tight, and due to the recent high fluctuations in futures prices, quotations from some beneficiation plants increased by 10 yuan/mt. And now the prices of 65%-grade acidic concentrates were 820-830 yuan/mt (tax-included, on a wet basis, sulfur content ≤ 0.009%, ex-factory). Sellers tended to raise prices, but traders found it difficult to receive high-price goods due to narrow profit margins. Leading steel mills raised settlement prices in mid-September, boosting sentiment. Local market prices are expected to remain firm.