Latest Update in the SMM Market

Domestic Iron Ore Brief Review: Iron Ore Concentrate Prices in Shandong Region May Fluctuate with a Stable and Weak Trend Iron ore concentrates with a grade of 64% (alkaline powder, dry basis, tax-exclusive, acceptance at mine) in the Shandong region are quoted at 868 yuan, up by 9 yuan. Most miners are primarily operating normally. According to feedback from local mines and beneficiation plants, some previously suspended mines and beneficiation plants may gradually resume normal production after the 20th of this month.

[Brief Review of Domestic Iron Ore: Iron Ore Concentrate Prices in West Liaoning May Fluctuate Downward] Recently, iron ore concentrate prices in west Liaoning have slightly declined, with the ex-factory prices for 66-grade wet basis excluding tax at 720-730 yuan/mt. After the conclusion of the Two Sessions, local mines and beneficiation plants have gradually resumed normal production. However, according to local mines and beneficiation plants, the provincial emergency management department is expected to conduct inspections of local mines from the 18th to the 20th of this month, and the intensity of safety inspections is anticipated to increase.

Domestic Iron Ore Brief: Prices of Iron Ore Concentrates in Western Liaoning May Fluctuate with a Stable and Weak Trend Low-priced resources are hard to find in the domestic ore market in Western Liaoning, and overall market transactions remain sluggish. The ex-factory price for local 66-grade wet basis iron ore concentrates excluding tax is 700-710 yuan/mt, with occasional high-price transactions observed, though such occurrences are rare. While large mines hold small inventories, most are temporarily not releasing them.

[Brief Review of Domestic Iron Ore: Shandong Region Iron Ore Concentrates Prices May Still Have Some Room for Upward Movement] In the Shandong region, mines and beneficiation plants reported 64-grade alkaline iron ore concentrates (dry basis, tax-exclusive, acceptance upon delivery) at 889 yuan/mt, up by 3 yuan/mt. Mines are gradually resuming production, steel enterprises have started restocking, long-term contracts are gradually recovering, mines have no inventory, and small plants and traders are resuming operations slowly.

Domestic Iron Ore Brief Review: Iron Ore Concentrate Prices in Western Liaoning Likely to Remain Stable The domestic ore market in Western Liaoning continues to show a relatively stable trend, with the ex-factory price of 66-grade wet basis iron ore concentrates excluding tax at 690-700 yuan/mt. As the holiday approaches, beneficiation plants in various regions are gradually halting production and taking breaks. While many operating beneficiation plants maintain firm asking prices, a few traders, despite having stockpiling needs, are mostly cautious in inquiries, with lower price levels. The tight supply situation provides some support for local iron ore concentrate prices.

[Brief Review of Domestic Iron Ore: Iron Ore Concentrate Prices in West Liaoning May Have Some Room for Increase] The domestic ore market in west Liaoning has shown weak transactions, with recent local iron ore concentrate prices remaining relatively stable. The delivery-to-factory price for 66-grade wet basis, excluding tax, is 700-710 yuan/mt. Local trade inquiries are relatively quiet, and steel mills with orders mainly purchase from beneficiation plants under long-term agreements, with very few external purchases. Market sentiment remains cautious.