[Domestic Iron Ore Brief] Iron ore concentrates prices in the Liaodong region may consolidate

Published: Oct 14, 2026 17:12 (GMT+8)

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During the week, the domestic ore market in eastern Liaoning saw subdued trading. A few sellers lowered prices by 10 yuan/mt due to steel mills pushing for lower prices. The local ex-works price for 65% grade iron ore concentrates on a wet basis, excluding tax, was 650-660 yuan/mt. Insufficient ROM constrained production efficiency at beneficiation plants, with no significant growth expected in supply, and some faced no funding or inventory buildup pressure.

[SMM Domestic Ore Daily Brief]

This week, transactions in the domestic ore market in eastern Liaoning were subdued. Some sellers lowered prices by 10 yuan/mt due to steel mills pushing for lower prices. The local 65% grade iron ore concentrates, wet basis, excluding tax, had an ex-works price of 650-660 yuan/mt. Insufficient ROM ore constrained production efficiency at beneficiation plants, with no significant supply growth expected. Additionally, some sellers, without capital or inventory buildup pressure, intended to stockpile in anticipation of future market conditions. Sentiment provided support for ore prices, but recently imported ore prices have been declining. Buyers maintained their desire to control costs and bargain down prices, increasingly constraining ore prices. The tug-of-war between sellers and buyers was quite evident. Local iron ore concentrate prices are expected to consolidate in the short term. [SMM Steel]

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