SMM

Recently, iron ore concentrate prices in west Liaoning 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 gradually resumed normal production. However, according to local mines and beneficiation plants, the provincial emergency management department conducted inspections of local mines from the 18th to the 20th of this month, and safety inspections are expected to intensify. Demand side, local steel mills mainly maintained normal production and primarily adopted purchasing as needed. Today, news of crude steel production cuts at steel mills resurfaced in the market. The overall futures market for iron ore showed a bearish trend, and overall market sentiment remained bearish. In the short term, local iron ore concentrate prices are expected to fluctuate downward. 【SMM Steel】