[China Iron Ore Brief] Iron Ore Concentrates Prices in West Liaoning May Show Volatile Trends

Published: May 27, 2026 17:47

Save

[Brief Review of China's Iron Ore Market] The domestic ore market in western Liaoning saw cautious trading. Currently, the wet-basis tax-inclusive ex-factory price of 66-grade iron ore concentrates stood at 730-735 yuan/mt. Mines and beneficiation plants maintained firm asking prices, but buyers mostly adopted a wait-and-see approach with no purchase willingness at this price level. Affected by the coal mine accident in Shanxi, most mines were concerned about stricter safety and environmental protection inspections and dared not operate easily. Some large mines even planned to halt production for maintenance in the near term to avoid risks. Available spot cargo resources were expected to tighten further, providing some support for local ore prices. However, iron ore futures showed a weak trend recently.

The domestic ore market in western Liaoning saw cautious trading. Currently, the ex-factory price of 66-grade iron ore concentrates on a wet basis and tax-inclusive basis stood at 730-735 yuan/mt. Mines and beneficiation plants maintained firm asking prices, but buyers mostly adopted a wait-and-see approach with no purchase willingness at this price. Affected by the coal mine accident in Shanxi, most mines were concerned about stricter safety and environmental protection inspections and dared not operate easily. Some large mines even planned to halt production for maintenance in the near term to avoid risks. Available spot cargo resources were expected to tighten further, providing some support for local ore prices. However, iron ore futures showed a weak trend recently, and local iron ore concentrates prices were expected to fluctuate in the short term.

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.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

5 hours ago

[SMM Analysis] India–Oman CEPA: Zero Tariffs and a Weaker Rupee Reshape Middle East Steel

Following the formal announcement by India’s Minister of Commerce and Industry, the India–Oman Comprehensive Economic Partnership Agreement (CEPA) will take effect on 1 June 2026. Market attention has largely focused on the surface-level benefit that “Oman will exempt an average 5% import tariff on 98% of Indian export goods.”

5 hours ago

[SMM Steel] Brazil Steel Import Quota Utilization Reaches 60% Average Rate

[SMM Steel] Brazil’s steel import quotas reached an average utilization rate of 60% as of May 20, up from 56% in late April, according to Siscomex data. The quota system, valid from February 24 to June 23, allows 445,469 mt of finished steel imports at regular tariff rates. Utilization rates reached 77% for Galvalume, 72% for zinc-coated steel, and 54% for CRC, while HRC quota usage remained relatively low at 18%. Imports exceeding quota volumes are subject to a 25% tariff. Market participants said Brazilian steelmakers continue pushing for stronger trade protection measures against imported steel.

5 hours ago

[SMM Steel] Nucor Opens Lexington Rebar Micro Mill in North Carolina

[SMM Steel] US steelmaker Nucor officially opened its Lexington rebar micro mill in North Carolina, adding 430,000 short tons of annual rebar capacity to support construction and infrastructure demand along the US East Coast. The project, initially announced in 2022 with a 350 million USD budget, was completed at around 440 million USD. The mill produces rebar using nearly 100% recycled scrap and employs around 200 workers. Nucor also plans to establish a nearby rebar fabrication facility to strengthen regional supply capabilities.

5 hours ago