Latest Update in the SMM Finished Steel Market

The main iron ore contract, I2605, trended strongly, closing at 777.5 CNY/tonne, up 1.63% from the previous trading day. Traders were active in offloading cargoes, whilst steel mills remained cautious

Today the most-traded iron ore contract I2605 continued to fluctuate upward, closing at 768 yuan/mt, up 1.25% from the previous working day. Traders actively sold goods, while steel mills cautiously waited and purchased as needed.

[Domestic Iron Ore Brief Review: Iron Ore Concentrate Prices in West Liaoning May Rebound Slightly] The domestic ore market in west Liaoning has recently seen relatively stable iron ore concentrate prices. The ex-factory prices for Fe66% iron ore concentrates on a wet basis, excluding tax, are 730-740 yuan/mt. The recent inspections by the National Security Bureau in the local area have affected production and transportation at some mines and beneficiation plants.

On December 16, 2025, multiple steel mills in Yunnan Province issued announcements regarding price adjustments for rebar

Today, DCE iron ore prices trended stronger, with the most-traded contract I2605 closing at 761 yuan, up 1.06% from the previous working day. Spot prices rose 3–5 yuan/mt from the previous day.

[Domestic Iron Ore Brief: Weak Supply and Demand, Iron Ore Concentrate Prices in Tangshan Region May Remain in the Doldrums] Iron ore concentrate prices in the Tangshan region are relatively stable, with 66-grade iron ore concentrate priced at 980-990 yuan/mt. Currently, the Level 2 environmental protection alert is in effect, leading to varying degrees of restrictions on production at steel mills and mines. Both supply and demand have decreased, the pace of vehicle transport has slowed down, and overall supply remains tight.