SMM

Iron ore concentrate prices in west Liaoning remained relatively stable, with ex-factory prices for Fe66% iron ore concentrates (wet basis, excluding tax) at 750–760 yuan/mt. On the supply side, production at some mines and beneficiation plants was affected by inspections from the National Security Agency, keeping overall iron ore concentrate supply tight and providing some support for local prices. Demand side, local steel mills mainly purchased as needed, with significant profit pressure and a strong desire to drive down prices, leading to evident market competition. In the short term, local iron ore concentrate prices are expected to fluctuate. [SMM Steel]