[China Iron Ore Brief] This week, the EXW price of 64% grade alkaline concentrates on a dry basis, before tax, from Shandong miners was reported at 836, down 11, with steel mills cutting prices in line. Miners mostly maintained normal production, but some saw inventory buildup, mainly influenced by fewer transport vehicles and the higher cost-effectiveness of imported ore, resulting in overall sluggish sales. On the steel mill side, profit margins narrowed significantly, leading to a stronger desire to bargain down prices, with procurement of domestic iron ore largely need-based. Considering that iron ore futures fluctuated and strengthened today, this is likely to boost local iron ore concentrate prices.

[Domestic Iron Ore Brief] Over the past week, China's iron ore concentrates market prices edged up slightly. By region, prices in Tangshan, Qian'an, Qianxi, and other areas in Hebei were basically flat; those in Chaoyang, Beipiao, Jianping, and other areas in western Liaoning edged down by 1-5 yuan/mt, while east China saw a decline of 15-20 yuan/mt. Looking ahead, domestic iron ore concentrates supply is expected to remain tight, providing some support for domestic prices.

[Domestic Iron Ore Brief] The Tangshan domestic ore market remained overall stable, with 66% grade iron ore concentrates at ex-factory prices of 970-975 yuan/mt on a dry basis including tax. Local iron ore concentrate resources remain tight, supporting producers' costs and willingness to hold prices firm. With beneficiation feedstock tight and low-priced resources hard to source, offers remained firm due to cost considerations. Steel mills, facing shrinking margins recently, are mostly purchasing as needed, with an overall relatively strong desire to push for lower prices.

[Domestic Iron Ore Brief] Domestic iron ore concentrates prices edged down this week. Looking at regional performance, prices in Tangshan, Qian'an, Qianxi, etc., Hebei, were basically flat; Chaoyang, Beipiao, Jianping in western Liaoning edged down by 1-5 yuan/mt; east China also saw a decline of 10-15 yuan/mt.

[Brief Review of China's Domestic Ore Market] At the beginning of the week, the domestic ore market in Tangshan remained relatively stable, with ex-factory prices of 66-grade iron ore concentrates (dry basis, tax-inclusive) at 970-975 yuan/mt. The tight supply situation at local mines and beneficiation plants showed no significant improvement, with a relatively strong wait-and-see sentiment, and they were in no hurry to sell at prices below their psychological expectations. Steel mills were mostly producing normally as planned, but with recent contraction in steel mill profits, steel mills mostly purchased as needed.

[Steel Billet Price Adjustment] On June 1, Tangshan Qian'an plain square billet resources were raised by 10 ex-factory, tax included, quoted at 3,030. (yuan/mt) [SMM Steel]

[China Iron Ore Brief] Iron ore concentrates prices in the Tangshan area were relatively stable, with the current ex-factory prices for 66-grade iron ore concentrates on a dry basis, tax-included, at 975-980 yuan/mt. A coal mine accident occurred in Shanxi last weekend, but its impact on mines and beneficiation plants in Hebei was limited. Mines and beneficiation plants estimated that safety inspection efforts may intensify in the near term. The overall operating rate of mines and beneficiation plants was currently low, and iron ore concentrates resources were relatively tight overall. It was estimated that the supply shortage may worsen in the later period.

[SMM Coking Coal and Coke Daily Brief] News: Some steel mills raised wet-quenched coke prices by 50 yuan/mt and coke dry quenching prices by 55 yuan/mt, effective from midnight on May 26, 2026. Supply side, coke producers remained profitable with moderate production enthusiasm, and coke production stayed relatively stable. Coke producers actively pushed shipments, keeping their own coke inventory at reasonable levels. Demand side, steel mill blast furnace daily average hot metal production fluctuated at highs, providing strong rigid demand support for coke. However, under the influence of the traditional off-season, steel mills' restocking pace slowed down somewhat. In summary, mine accidents have increased coking costs, and the coke market is expected to hold up well in the short term, with the fourth round of coke price increases set to be implemented soon.

[China Iron Ore Brief] Iron ore concentrates prices in China pulled back notably this week. By region, prices in Tangshan, Qian'an, and Qianxi in Hebei dropped 10-15 yuan/mt; prices in Chaoyang, Beipiao, and Jianping in western Liaoning fell 5-10 yuan/mt; east China edged up 3-5 yuan/mt. Iron ore futures have been in the doldrums recently, suppressing local prices, and iron ore concentrates prices were generally in the doldrums this week. Looking ahead to next week, steel mill profits are expected to be under pressure, and steel mills are expected to have a strong desire to bargain down prices for iron ore concentrates.

[SMM Coking Coal and Coke Daily Brief] Supply side, coke enterprises maintained stable coke production, with relatively smooth shipments and their own coke inventory remaining at low levels. Demand side, steel mill operating rates stayed high, and daily average hot metal output is still expected to increase going forward. Rigid demand for coke showed an increasing trend. However, recent continuous declines in ferrous futures, narrowing steel profitability, and the steel market already being in the consumption off-season suppressed coke demand. Meanwhile, most steel mills' coke inventory was at reasonable levels, leading to low willingness to accept coke price hikes. In summary, the standoff between steel and coke enterprises will continue, and the coke market may remain temporarily stable next week.