SMM

The iron ore concentrates market in west Liaoning remains relatively quiet, with prices being relatively stable. The wet basis, tax-exclusive price for 66-grade iron ore concentrates is 700-710 yuan/mt. Currently, mines and beneficiation plants are affected by the Spring Festival holiday and low temperatures, with some mines expected to resume operations after the Lantern Festival, and concentrate production workshops likely to gradually resume production after early March. Overall, local iron ore concentrate resources remain relatively tight. Steel mills currently show weak purchase willingness, mainly purchasing as needed. Coupled with current transportation difficulties and a limited number of circulating trucks, the overall market transactions remain subdued. Considering the recent fluctuating trend in iron ore futures, local iron ore concentrate prices are expected to operate with a stable and weak trend. 【SMM Steel】