[China Iron Ore Brief Review] Iron Ore in Shandong May Continue to Trend Higher

Published: Mar 23, 2026 17:22

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[China Iron Ore Brief Review: Iron Ore in Shandong May Continue to Edge Higher] This week, at mines and beneficiation plants in Shandong, the ex-mine quote for 64 grade alkaline fines on a dry basis, before tax and settled by bank acceptance, was 899, up 17 yuan/mt. Steelmakers raised prices in tandem, most miners maintained normal production, and some mines slightly increased output. Steel mills showed moderate willingness to purchase, mainly under long-term contracts, while shipments from small plants and traders were also relatively good, with overall transactions improving; after a large mine in Zaozhuang resumed production

This week, in Shandong, mines and beneficiation plants quoted 899 yuan/mt for 64-grade alkaline concentrates on a dry basis, pre-tax and under bank acceptance, up 17 yuan/mt from the mine. Steelmakers raised prices in tandem, and most miners maintained normal production, with some mines slightly increasing output. Steel mills showed moderate purchasing interest, mainly under long-term contracts, while shipments from small mills and traders were also relatively good, and overall transactions improved. After a large mine in Zaozhuang resumed production, supply rebounded, and traders mainly purchased as needed. Recently, iron ore futures trended stronger, which may drive the local market, and local iron ore concentrates prices were expected to still have some room to rise.[SMM Steel]

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