[Domestic Iron Ore Brief Review] Iron Ore Concentrate Prices in Shandong May Remain in the Doldrums with Fluctuations

Published: Feb 2, 2026 17:19

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[Domestic Iron Ore Brief: Iron Ore Concentrate Prices in Shandong May Fluctuate in the Doldrums] In Shandong, mines and beneficiation plants quoted 64-grade alkaline powder at 868 (down 6) on a dry basis, pre-tax, and acceptance basis. Steel mills simultaneously lowered prices, while most miners maintained normal production, operating with virtually no inventory. In Hebei, steel mills showed good purchasing enthusiasm, with local mills having largely completed stockpiling. Restocking for imported ore is currently underway; maintaining routine purchases before the holiday is sufficient, overall market conditions are...

In Shandong, the mine-mouth price for 64%-grade alkaline iron ore concentrates (dry basis, pre-tax, acceptance payment terms) was quoted at 868 yuan per tonne, down 6 yuan. Steel mills simultaneously lowered prices. Most miners maintained normal production, operating with virtually no inventory. In Hebei, steel mills showed good purchasing enthusiasm. Local steel mills have largely completed stockpiling, and restocking of imported ore is underway. Pre-holiday routine procurement is sufficient. Overall market transactions improved compared to the previous period. However, iron ore futures fluctuated downward today, and steel mills' overall desire to push for lower prices remained relatively strong. In the short term, local iron ore concentrate prices are expected to remain in the doldrums with fluctuations. [SMM Steel]

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