China Iron Ore Prices to Face Downward Risk Post-CNY Holidays

Published: Jan 20, 2023 16:17

Source: SMM

Save

Domestic iron ore prices are expected to stabilise in the short term. After CNY holidays, the prices look set to fall in light of the absence of stockpiling in large volumes by steel mills and significant declines in overseas prices.

SHANGHAI, Jan 20 (SMM) - Domestic iron ore prices are expected to stabilise in the short term. After CNY holidays, the prices look set to fall in light of the absence of stockpiling in large volumes by steel mills and significant declines in overseas prices.

This week, iron ore prices in Tangshan, Qian'an, and Qianxi in Hebei province were lowered by 5-10 yuan/mt. Prices in western Liaoxi, including Chaoyang, Beipiao, and Jianping were largely unchanged. The prices in east China were raised by 10-20 yuan/mt.

SMM

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

16 hours ago

Before the holiday, the black chain is unlikely to see a trend-driven market [SMM Steel Industry Chain Weekly Report].

This week, ferrous metals were in the doldrums, with coking coal and coke staging a mid-week rise. At the beginning of the week, financial markets experienced sharp fluctuations, dragging down sentiment in the ferrous chain and leading to a pullback in futures. Mid-week, Indonesia's cut to coke production quotas drove coking coal and coke futures to lead the gains, though the impact was more pronounced on thermal coal, while coking coal's rise was largely sentiment-driven and short-lived. In the latter part of the week, finished products continued their seasonal inventory buildup, and support from the raw material side weakened, causing the entire ferrous chain to pull back. In the spot market, with the Chinese New Year holiday approaching, purchasing activity slowed down further, with end-users only making limited, as-needed purchases at low prices.

16 hours ago

MMi Daily Iron Ore Report (February 6)

Today, the DCE iron ore futures continued to hit bottom today, with the most-traded contract I2605 closing at 760.5 yuan/mt, down 1.23% from the previous trading day. Spot prices fell by 5–10 yuan/mt compared to the previous trading day.

16 hours ago

17 hours ago

[SMM Chromium Daily Review] Inquiries and Transactions Weakened, Chromium Market Showed Mediocre Performance Before the Holiday

[SMM Chrome Daily Review: Trading and Inquiries Weakened, Chrome Market Showed Mediocre Performance Before the Holiday] February 6, 2026: Today, the ex-factory price of high-carbon ferrochrome in Inner Mongolia was 8,500-8,600 yuan/mt (50% metal content), flat MoM from the previous trading day...

17 hours ago