[Brief Review of Domestic Iron Ore Market] Iron ore concentrates prices in Shandong Province may fluctuate rangebound

Published: Jun 9, 2025 17:23

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[Brief Commentary on Domestic Iron Ore Market: Iron Ore Concentrates Prices in Shandong May Fluctuate Rangebound] In Shandong, the ex-mine price (dry basis, before tax, acceptance) of 64-grade alkaline iron ore concentrates from mines and beneficiation plants was reported at 797, down 7. Steelmakers have also lowered their prices in sync. Most miners are operating normally. Recently, some mines and beneficiation plants have launched sales promotions, leading to some improvement in local shipments. However, due to significant inventory accumulation in the early stage, the existing inventory has not been fully depleted yet. Shipments from small mills and traders have also improved somewhat.

In Shandong, the ex-mine price (before tax, acceptance, dry basis) of 64-grade alkaline concentrates from mines and beneficiation plants was reported at RMB 797, a decrease of RMB 7. Steel enterprises have synchronously lowered their prices, while most miners are maintaining normal production. Recently, some mines and beneficiation plants have launched sales promotions, leading to an improvement in local shipments. However, due to the significant accumulation of inventory in the early stage, the existing inventory has not yet been fully depleted. Shipments from small mills and traders have also improved, but the steel mills' purchasing as needed has made it difficult for the market to achieve bulk transactions. Overall, transactions for the week have improved compared to before the holiday. This week, imported ore still maintains a strong cost-performance advantage, and steel enterprises' favour for imported ore remains unabated. Amid the off-season, domestic ore is still under pressure. It is expected that in the short term, the price of local iron ore concentrates will fluctuate rangebound. [SMM Steel]

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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