SMM

In the domestic ore market of western Liaoning, trading activity remained low. The current delivery-to-factory price, tax included, for 66% grade iron ore concentrates on a dry basis was 750-760 yuan/mt. Production at local mines and beneficiation plants was relatively stable, and operations previously affected by environmental protection-driven production restrictions had gradually resumed normal production. Holders of cargoes showed strong bullish sentiment and, without funding pressure, generally raised their asking prices slightly, with a strong tendency to hold back cargoes. Demand side, local steel mills maintained a strong desire to bargain down prices. However, the recent sharp rise in imported ore prices may impact the domestic market. It is expected that local iron ore concentrate prices may have some room for upward movement in the short term. [SMM Iron Ore]