MMi Daily Iron Ore Report (January 30)

[SMM Daily Brief Review of Coking Coal and Coke] In terms of supply, expectations for the implementation of a coke price cut were relatively strong, dampening coke producers’ willingness to produce. Coke supply tightened slightly, but coke producers saw inventory buildup and were proactive in shipments. Demand side, the Two Sessions had already convened, and some steel mills had already carried out blast furnace maintenance. The daily average hot metal output declined, weakening rigid demand for coke. Meanwhile, some steel mill profits were currently poor, and their willingness to seek profits from the raw material side was relatively strong. Overall, the first round of the coke price cut was expected to be implemented this Friday, and the coke market might remain in the doldrums in the short term.

[Domestic Iron Ore Brief Commentary: Iron Ore Concentrates Prices in West Liaoning May Remain in the Doldrums] The west Liaoning domestic ore market saw no significant fluctuations. The current ex-factory prices of 66 grade iron ore concentrates on a wet basis, excluding tax, were 710-720 yuan/mt. The pace of supply and demand operations was relatively slow, making it difficult to boost market trading activity; some mines and beneficiation plants said they may resume normal production after the Two Sessions, with low enthusiasm for shipments and strong wait-and-see sentiment.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 05 Mar , 2026