Iron Ore prices in decline, will Steel prices follow?

Published: Mar 10, 2017 13:21

Save

After the dramatic increases in 2016 and early 2017, Chinese iron ore prices have recently fallen. China, the world’s top iron ore buyer, received record imports of the commodity in 2016.

UNITED KINGDOM March 10 2017 8:12 AM

LONDON (Scrap Register): After the dramatic increases in 2016 and early 2017, Chinese iron ore prices have recently fallen. China, the world’s top iron ore buyer, received record imports of the commodity in 2016.

Despite recent statistics showing that the country is now experiencing a decline in steel exports, February’s imports of the raw material continued to climb.

Stockpiles of imported iron ore are continuing to build up at the ports, as demand is failing to consume the surplus volumes.

With reduced export opportunities, as a result of trade actions in various countries, China now looks to its own domestic market and its investment in infrastructure to consume the oversupply.

On a global level, this has contributed to an increase in steel selling values, but will the price increases hold or will they follow the decline in iron ore?

MEPS forecasts that global steel prices will fall in the second half of 2017.

Source: MEPS

Iron Ore prices

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

Apr 23, 2026 19:50

Feihushan Lead-Zinc Mine Project Advances in Heilongjiang, Aims for 300,000 mt Annual Ore Capacity

[Lead-Zinc Ore Market Dynamics] A project advancement meeting for the Feihushan lead-zinc mine was held this week in Huzhong District, Heilongjiang, chaired by Guan Jingjun, Deputy Secretary of the District Party Committee and District Governor. The total investment for the Feihushan lead-zinc polymetallic mine development project is expected to be 396.7111 million yuan, with all required funds to be self-raised by the enterprise. Upon completion, the project will have an annual capacity of 300,000 mt of raw ore (including 200,000 mt of lead-zinc ore and 100,000 mt of iron ore). The mineral processing products will be lead concentrates, zinc concentrates, and iron ore concentrates, with a service life of 14 years (excluding a 4-year construction period).

Apr 23, 2026 19:50

Apr 23, 2026 19:27

Yingkou FTZ to Approve 5,000 mt/year Waste Lead-Acid Battery Collection Project

[Waste Lead-Acid Battery Market Dynamics] It was reported that the website of the Yingkou Area of the China (Liaoning) Pilot Free Trade Zone recently published the "Public Notice of the Management Committee of the Yingkou Area of the China (Liaoning) Pilot Free Trade Zone on the Acceptance of the Environmental Impact Assessment Report for the Waste Lead-Acid Battery Collection (5,000 mt/year) Project of Fenghuan (Yingkou) Environmental Technology Co., Ltd." Upon completion, the project will have a waste lead-acid battery turnover capacity of 5,000 mt/a and a maximum storage capacity of 100 mt.

Apr 23, 2026 19:27

Apr 17, 2026 18:05

Bank of Jiujiang Hefei Branch Approves 280M Yuan Credit Line for Anhui Lukong Environmental Protection

[Secondary Lead Market Update] It was reported that recently, the Hefei Branch of Bank of Jiujiang, in response to the characteristics of the secondary lead industry — "capital-intensive raw material procurement and urgent production turnover needs" — assembled a professional team and customized a comprehensive financial service plan, ultimately approving a credit line of 280 million yuan for Anhui Lukong Environmental Protection Co., Ltd.

Apr 17, 2026 18:05