SMM Daily Comment On Domestic Iron Ore Market (Sep 18)

Published: Sep 18, 2023 17:59

Source: SMM

Save

The price of iron ore concentrate in Shandong mainstream mines increased by 34 yuan/mt and the price of 64%-grade alkali concentrates was 1,017 yuan/mt (tax-excluded, on a dry basis, ex-factory).

SHANGHAI, Sep 18 (SMM) – The price of iron ore concentrate in Shandong mainstream mines increased by 34 yuan/mt and the price of 64%-grade alkali concentrates was 1,017 yuan/mt (tax-excluded, on a dry basis, ex-factory). Leading mines resumed normal production and resources began to be sold to other areas, but some local steel mills still found it difficult to obtain goods. Iron ore prices in the Zaozhuang area remained high, and traders’ purchasing sentiments were sluggish, so there were only a few orders. Taken together, raw material resources were still thin, and steel mills without maintenance had a rigid demand for concentrate. However, considering that the recent quotations of local beneficiation plants were close to annual highs and the trend of imported ore was relatively volatile, it is expected that local ore prices will fluctuate this week.

Market forecast Market review

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

15 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.

15 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.

15 hours ago

16 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...

16 hours ago