In Shandong, mines and beneficiation plants quoted 64-grade alkaline powder at 868 (down 6) on a dry basis, pre-tax, and acceptance basis. Steel mills simultaneously lowered prices, while most miners maintained normal production, operating with virtually no inventory. In Hebei, steel mills showed good purchasing enthusiasm, with local mills having largely completed stockpiling.

Restocking for imported ore is currently underway; maintaining routine purchases before the holiday is sufficient, overall market conditions are…

The domestic ore market in western Liaoning was generally stable. The ex-factory price for 66% grade iron ore concentrates on a wet basis, excluding taxes, remained at 750-760 yuan/mt. Supply and demand showed clear wait-and-see sentiment, and mines maintained a firm stance on prices. Sellers willing to move material kept prices unchanged from previous levels, while those holding high-quality resources held back in anticipation of better offers. On the demand side, steel mills continued to restock based on immediate needs at appropriate prices. Overall market transactions remained relatively sluggish. However, recent weakness in iron ore futures may impact local ore prices. In the short term, local iron ore concentrate prices are expected to remain in the doldrums with fluctuations.
Source: SMM Steel