[China Iron Ore Brief] Iron Ore Prices in West Liaoning May Remain in the Doldrums

Published: May 20, 2026 17:29

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[Domestic Iron Ore Brief] The trading atmosphere in the western Liaoning domestic ore market was cautious. Local iron ore concentrates prices edged down by 5-10 yuan, with the current ex-factory price of 66-grade iron ore concentrates on a wet basis and tax-exclusive at 730-740 yuan/mt. Local iron ore concentrates resources were relatively tight, and most mines held back from selling. Steel mills recently saw profit margins shrink, with domestic iron ore procurement mostly on an as-needed basis and a relatively strong desire to bargain down prices. Overall, market transactions were relatively sluggish. Combined with the recent weak trend in iron ore futures, this may weigh on domestic ore prices.

The trading atmosphere in the western Liaoning domestic ore market was cautious. Local iron ore concentrates prices edged down by 5-10 yuan. Currently, the ex-factory price of 66-grade iron ore concentrates on a wet basis and tax-exclusive basis was 730-740 yuan/mt. Local iron ore concentrates resources were relatively tight, and most ore beneficiation plants held back from selling. Steel mills recently saw profit margins shrink, and their procurement of domestic iron ore was mostly on an as-needed basis, with a relatively strong desire to bargain down prices. Overall, market transactions were relatively sluggish. In addition, iron ore futures have recently trended weak, which may affect domestic ore prices. In the short term, local iron ore concentrates prices are expected to be in the doldrums. [SMM Steel]

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