Latest Update in the SMM Iron Ore Price Market

Today, DCE iron ore futures continued to decline. The most-traded I2505 contract closed at 751.5 yuan/mt, down 2.21% for the day. Traders showed a relatively weak willingness to sell. Steel mills were cautious in purchasing, opting to purchase as needed.

Domestic Iron Ore Brief: Iron Ore Concentrates Prices in Shandong Region May Fluctuate This week, the leading mines in the Shandong region reported a price of 852 yuan/mt, down by 3 yuan/mt, for 64-grade alkaline concentrates on a dry basis, tax-exclusive, and payment upon delivery. Most mines are operating normally, and steel mills have gradually started restocking ahead of the year-end. Some mines reported that steel mills are scrambling for supplies, with no inventory pressure.

To better serve our customers and improve the efficiency of the SMM database, we have optimized and adjusted the placement of certain data.

[SMM Daily Review of Stainless Steel Spot: Steel Mills Continue to Deliver, Weak Downstream Demand] On January 6, stainless steel spot prices temporarily halted their downward trend today, remaining stable at low levels. On the supply side, steel mills continued to deliver, while downstream demand remained weak, creating an imbalance between supply and demand.

The steel scrap purchase price adjustment of Anyang Iron & Steel in Henan has been updated today. If needed, feel free to contact us!

[Domestic Iron Ore Brief Review: Prices of Iron Ore Concentrates in Tangshan May Slightly Decline] The market for iron ore concentrates in Tangshan has started to weaken, with the delivery-to-factory price for 66-grade dry basis including tax at 960-970 yuan/mt. Leading steel enterprises have a strong desire to bargain down prices, making it increasingly difficult for local resources to rise again, and market transactions have consequently slowed down.

Today, iron ore futures dropped significantly. The most-traded I2505 contract closed at 764, down 2.18% for the day. Traders showed moderate willingness to sell. Steel mills began restocking ahead of the holiday, with procurement volume increasing significantly WoW.

[At the 2024 Supplier Conference, Zoppas Industries Group awarded Shanxi TISCO Stainless Steel Precision Strip Co., Ltd. the plaque of "Core Business Partner."] It is reported that Zoppas Industries Group was founded in 1963, headquartered in Venice, Italy, and has now become a globally renowned leader in the electric heating elements and systems industry...