SMM

The domestic ore market in western Liaoning showed no significant fluctuations. The current ex-factory price for 66% grade iron ore concentrates on a wet basis, excluding tax, is 740-750 yuan/mt. Most mines and beneficiation plants are holding prices firm and adopting a wait-and-see approach. Buyers, considering no urgent restocking needs, show little purchase willingness at these price levels. Traders maintain a cautious stance, with some noting that previously executed orders have not yet been fully warehoused, hence they are not in a hurry to seek additional cargo for restocking. Steel mills are also primarily purchasing as needed. Overall market transactions have not shown significant improvement. Looking ahead to next week, given the current volatile trend in iron ore futures, it is expected that local iron ore concentrate prices may fluctuate weakly in the short term. [SMM Steel]