SMM

SMM Daily Review on Domestic Iron Ore
This week, the ex-mine price of 64-grade alkaline iron ore concentrates (dry basis, tax-included, acceptance) in Shandong dropped by 21 yuan/mt to 831 yuan/mt. Currently, mines and beneficiation plants are primarily operating under normal production. At the beginning of the new year, production enthusiasm at mines and beneficiation plants remains high. As the Chinese New Year approaches, local steel mills are expected to restock to some extent, with purchasing activity likely to improve this week. Mines face no inventory pressure and mainly sell as they produce. Today, iron ore futures rose slightly, coupled with the continued upward trend in pig iron output from steel mills' blast furnaces in recent days, providing some support for iron ore concentrate prices. In the short term, local iron ore concentrate prices are expected to remain relatively stable with slight fluctuations. 【SMM Steel】