[China Iron Ore Brief] Iron Ore Concentrates Prices in Shandong Region May Remain in the Doldrums

In June 2026, total energy consumption of member enterprises decreased by 3.21% YoY; comprehensive energy consumption per ton of steel decreased by 0.70% YoY; comparable energy consumption per ton of steel increased by 1.32% YoY; and electricity consumption per ton of steel increased by 0.73% YoY. Total electricity consumption of member enterprises decreased by 2.06% YoY. Total self-generated electricity increased by 0.18% YoY; the self-generation rate was 64.26%, up 1.44 percentage points YoY. Clean energy power generation increased by 5.37% YoY, of which wind power generation decreased by 30.76% YoY and PV power generation increased by 8.57% YoY. Water consumption of member enterprises rose by 327.5353 million m³ YoY, up 4.28% YoY. Specifically, water intake increased by 3.5978 million m³ YoY, up 2.90% YoY; recirculated water volume increased by 323.9375 million m³ YoY, up 4.31% YoY. The water recycling rate was 98.40%, up 0.02 percentage points YoY; water intake per ton of steel was 2.68 m³/mt, up 4.86% YoY. Discharge volume of member enterprises increased by 21.27% YoY. In wastewater, emissions of chemical oxygen demand (COD), ammonia nitrogen, suspended solids, and petroleum-based pollutants increased by 8.03%, 12.53%, 0.04%, and 7.19% YoY, respectively; emissions of volatile phenols and total cyanide decreased by 52.85% and 17.29% YoY, respectively. Total air emissions of member enterprises decreased by 7.09% YoY, with emissions of sulfur dioxide, particulate matter, and nitrogen oxides from air emissions decreasing by 21.70%, 3.65%, and 9.24% YoY, respectively. In the comprehensive utilization of solid waste, the utilization rates of steel slag, blast furnace slag, and iron-bearing dust/sludge all remained above 98%. In the utilization of combustible gases, the utilization rates of blast furnace gas, converter gas, and coke oven gas remained above 98%, with the recovery volume of converter gas per ton of steel increasing by 3.14% YoY.

Recently, the Henan Minfa Cold Rolling Project, undertaken by MCC Jingcheng Engineering Technology Co., Ltd. as the EPC contractor, has successively overcome key periods and successfully completed the A-level pre-delivery inspection of the F3 rolling mill and the first lifting operation of a 63 mt heavy-duty crane. The two significant construction tasks have been accomplished successfully. The completion of these periods marks that the project has officially entered a critical phase of centralized equipment supply and comprehensive installation, laying a solid foundation for the steady advancement of subsequent works and the timely fulfillment of construction targets. The A-level pre-delivery inspection of the F3 rolling mill is the highest-level overall verification procedure before equipment delivery, directly affecting the core process precision of the cold rolling production line. The project team strictly aligned with the drawings and technical agreements, conducting refined detection on core indicators such as the machining accuracy of the housing, window parallelism, perpendicularity, and geometric tolerances. All parameters met the design standards. This inspection successfully established the original precision benchmark of the rolling mill, providing reliable equipment assurance for subsequent installation, commissioning, reaching full production, and stable control of product quality, thereby consolidating the project’s quality foundation from the source.

Cleveland-Cliffs shares closed up nearly 16% on July 23 after the US steelmaker reported second-quarter results and issued upbeat forward guidance, with management pointing to automotive steel shipments at their highest level in two years and continuing to climb. The company guided to adjusted EBITDA of approximately $575 million for the third quarter of 2026, which it said would be its strongest quarterly result in three years, and indicated fourth-quarter profitability was expected to top that figure. Cleveland-Cliffs, the largest flat-rolled steel producer supplying the North American automotive sector, cited robust domestic demand and firmer pricing as drivers. Rival domestic producers Nucor and Steel Dynamics also posted share gains the same day. Separately, Cleveland-Cliffs and Nucor have publicly diverged on tariffs covering imported pig iron, a key raw material for US electric-arc-furnace steelmaking. The update comes as US steelmakers continue operating behind a 50% Section 232 tariff wall on most imported steel.