SMM

The transaction activity in the domestic ore market in western Liaoning remained sluggish. The current ex-factory price for Fe66% iron ore concentrates on a wet basis, excluding tax, is 750-760 yuan/mt. Resources at mines and beneficiation plants remain relatively tight, and with no financial pressure, the willingness to hold prices firm is relatively strong. Buyer sentiment is noticeably cautious, with some traders, considering the absence of steel mill contracts to execute, mainly making inquiries to drive down prices while waiting for resources at suitable prices. Steel mills are also primarily purchasing as needed. Overall market transactions are relatively sluggish, and the market remains in a situation of weak supply and demand in the short term. Overall, it is expected that local iron ore concentrate prices may fluctuate in the short term. [SMM Steel]