SMM

In the western Liaoning domestic ore market, prices of iron ore concentrates remained relatively stable recently. The ex-factory prices for Fe66% iron ore concentrates on a wet basis, excluding tax, were 730-740 yuan/mt. The recent inspections by the National Security Bureau in the area affected production and transportation at some mines and beneficiation plants. Overall, iron ore concentrate resources remained relatively tight, with a relatively strong willingness to hold prices firm and a relatively strong wait-and-see sentiment. On the demand side, local steel mills mainly purchased as needed, maintaining a basically weak supply-demand pattern. However, with the recent strengthening and fluctuations in iron ore futures, it is expected that local iron ore concentrate prices may rebound slightly in the short term. [SMM Steel]