[China Iron Ore Brief] West Liaoning Iron Ore Concentrates Prices Likely to Consolidate on a Subdued Note

Published: Aug 4, 2026 17:24

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Liaoxi domestic ore market prices edge down. Currently, the wet basis, tax-exclusive EXW price for 66% grade iron ore concentrates is 700-710 yuan/mt. Buyers, risk-averse, mostly wait and see the market outlook; some ore processors' sentiment is easing. Local steel mills' losses are deepening. Based on cost control considerations, some intend to lower procurement offers. Intermediaries' profit margins are further under pressure. Their willingness to operate is low, which is clearly suppressing ore prices.

Prices in the domestic ore market in western Liaoning edged down, with current 66% grade iron ore concentrates wet basis EXW price at 700-710 yuan/mt. Buyers remain cautious, mostly waiting on the sidelines, while some miners' sentiment has weakened. Local steel mills are suffering deeper losses, and with cost control in mind, some intend to lower purchase prices, further squeezing intermediaries' profit margins. Their operating willingness is sluggish, exerting significant downward pressure on ore prices. Overall market trading is relatively sluggish. Coupled with recent weakness in iron ore futures, this has had a certain impact on domestic iron ore prices. Overall, it is estimated that local iron ore concentrate prices will consolidate on a subdued note in the short term. [SMM Steel]

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