[China Iron Ore Brief] Local prices in East Liaoning may be in the doldrums

Published: Aug 12, 2026 16:20

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Today, the domestic ore market in Liaodong remained generally stable, with overall resources at mines and beneficiation plants still tight; traders purchased based on demand, pushing for lower prices and controlling volumes, while some mines and beneficiation plants sold at market prices to cash in; steel mills, operating with low inventory, had some rigid procurement demand for iron ore.

Today, the domestic ore market in eastern Liaoning is generally stable. The overall resources at mines and beneficiation plants remain tight. Traders are purchasing based on demand while pushing for lower prices and controlling volumes. Some mines and beneficiation plants are selling and cashing in at prevailing market prices. With steel mills operating on low inventories, there is some rigid demand for iron ore, supporting ore prices. However, as the off-season for steel demand persists, steel mills show a strong willingness to voluntarily cut production, weakening demand. Some mills have reduced their purchase plans from contracted mines, causing a phased increase in spot supply in the market and intensifying bearish interference on ore prices. Overall, the gaming mentality between supply and demand sides is quite evident. Taking everything into account, the domestic ore market in eastern Liaoning has remained largely stable over the past two days, though some local prices face downside risks. [SMM Steel]

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