SMM

In the Shandong region, 64-grade alkaline iron ore concentrates (dry basis, tax-exclusive, acceptance) were quoted at 862 yuan/mt, up by 31 yuan/mt. As the Chinese New Year approaches, steel mills have accelerated their pre-holiday restocking pace, with active purchases from local and Hebei steel mills. Most miners have no inventory and mainly maintain long-term contract deliveries. Some mines are expected to halt production before the holiday and gradually resume after the sixth day of the Chinese New Year. On the macro front, short-term news remains relatively quiet. The pre-holiday restocking trend is nearing its end, and iron ore futures are showing a high-level fluctuation pattern. Domestic iron ore concentrate prices in the region are also expected to exhibit high-level fluctuations. 【SMM Steel】