Last week, the domestic raw material market saw different performances across various varieties. The price of iron ore fluctuated slightly; the third round of price cuts for coke was basically implemented; the spot price of coking coal continued to decline; the prices of most varieties of ferroalloys continued to fall, while the price of ferromolybdenum still rose. During this period, the price changes of the main varieties were as follows:
The price of imported iron ore fluctuated slightly. Last Friday, the spot price of imported iron ore at the port was basically the same as that of the previous Friday. As the current price of imported iron ore has dropped to the lowest point of the year, the trade merchants' spot resources have all suffered losses, and their willingness to quote is generally low. Steel enterprises maintain low inventories, and most of them are still not optimistic about the future market, so they are cautious in purchasing. The arrival volume of iron ore at major domestic ports turned from a decrease to an increase, while the port discharge volume continued to decrease slightly, and the overall inventory declined. Since June, a few domestic steel enterprises have started to repair their blast furnaces due to losses, and the output of molten iron has begun to decline slightly. However, without a concentrated reduction in production, the total demand for iron ore remains relatively good, providing some support for the bottom price. Considering that the demand for finished steel products has entered the off-season and the supply reduction is not significant, the overall market still faces pressure. It is expected that the iron ore market will remain weak in the near future.
The domestic metallurgical coke price fell overall. Last week, steel enterprises in Hebei, Shandong and other regions lowered the purchase price of metallurgical coke. In Hebei, some steel enterprises reduced the price of wet quenched coke by 70 yuan/ton and dry quenched coke by 75 yuan/ton. In East China, some steel enterprises reduced the price of fixed coke by 70 yuan/ton to 75 yuan/ton, and the base price of top-charged dry quenched coke was reduced by 55 yuan/ton. Some coke enterprises reduced production due to losses or inventory pressure. The capacity utilization rate of independent coke enterprises decreased by 0.23 percentage points to 79.02%, and the supply of metallurgical coke tightened slightly. However, some steel enterprises in the downstream sector were repairing their blast furnaces, and the demand for coke also decreased. Currently, steel enterprises have low profits, and some steel enterprises are controlling the arrival rhythm, causing the inventory of coke enterprises to increase. It is expected that the metallurgical coke market will remain weak and stable in the near future.
The price of coking coal was stable with a slight decline. Last week, the price of coking coal was stable with a slight decline. The online auction prices of coking coal mainly fell, and the rate of failed auctions remained high. The price of low-sulfur coking coal in Linfen, Shanxi Province, dropped to 1,170 yuan/ton to 1,180 yuan/ton. The price of Xiangning coking coal and lean coal fell by 30 yuan/ton, and the price of coking coal in other areas of Shanxi Province fell by 10 yuan/ton to 80 yuan/ton. The price of gas coal in some representative coal mines in Zichang, Shaanxi Province, dropped by 30 yuan/ton to 720 yuan/ton. The price of gas coal in Huangling also fell by 30 yuan/ton. The price of lean coal and lean lean coal in a few coal mines in Changzhi fell by 40 yuan/ton. Last week, the online auction prices of coking coal mainly fell, with a comprehensive transaction rate of 65.1%. Coke enterprises and traders were cautious in purchasing and maintained low inventory operations. It is expected that the price of coking coal will remain stable with a slight decline in the near future.
The prices of most varieties of ferroalloys continued to fall. Last week, except for ferromolybdenum, the prices of other ferroalloys continued to decline. The ex-factory price of ferrosilicon fell by 90 yuan/ton to 130 yuan/ton. From the demand side, a few steel enterprises reduced production and the price of magnesium ingots fell, causing the demand for ferrosilicon to be weak. In the first week of June, the weekly output of ferrosilicon producers in the five major production areas decreased by 0.06 tons compared to the previous period, and the weekly capacity utilization rate was 43.59%. The inventory of ferrosilicon in the delivery warehouse decreased by 0.55 tons to 8.4 tons, and the pressure of inventory reduction still exists. The spot market is under pressure, and it is expected that the price of ferrosilicon will continue to decline slightly in the near future. The price of ferromanganese continued to decline. The ex-factory price in the main production areas fell by 50 yuan/ton. The price of manganese ore fell, and the inventory increased by 11.5 tons. The trading and investment atmosphere in the spot market of ferromanganese was weak. In June, the bidding price of ferromanganese by steel enterprises continued to decline, and the market was mostly waiting for the bidding situation of large steel groups. It is expected that the price of ferromanganese will remain stable with a slight decline in the near future. The price of high-carbon ferro-chromium has dropped by 100 yuan per 50 base tons, with some spot transactions in the market falling to 7,700 yuan per 50 base tons. A few downstream enterprises' purchase price for processing blocks is 8,150 yuan per 50 base tons. The spot price of chrome ore at ports has declined, and the production cost of high-carbon ferro-chromium continues to fall. Currently, there are a few low-priced resources in the retail market for high-carbon ferro-chromium, but most high-carbon ferro-chromium enterprises still focus on fulfilling long-term orders from steel enterprises. The inventory of high-carbon ferro-chromium at major steel enterprises remains low. It is expected that the high-carbon ferro-chromium market will remain stable with a slight downward trend in the near future.
Regarding vanadium-based alloys, the price of ferro-vanadium-nitrogen has dropped by 1,000 yuan per ton, and the price of ferro-vanadium has fallen by 500 yuan per ton. The bidding prices for ferro-vanadium-nitrogen by steel enterprises such as Xugong Steel, Changjiang Steel, Egang, and Kunming Steel range from 114,200 yuan to 118,000 yuan per ton. The price of 98% vanadium flakes has dropped by 1,000 yuan per ton, mostly due to essential purchases. The demand for vanadium-based alloys in the market has not been fully released, and the bidding prices of steel enterprises continue to decline. The prices of raw materials are under pressure and falling, and the market is cautious. It is expected that the prices of vanadium-based alloys will remain stable with a slight decline in the near future.
For molybdenum-based alloys, the ex-factory price of 60% molybdenum iron has increased by 1,000 yuan per ton. The price of 45% to 47% grade molybdenum concentrate has risen by 60 yuan per ton. The price of raw material molybdenum concentrate is firm, and the bargaining space for steel enterprises to enter the market for procurement is limited. Their acceptance of high-priced raw materials is also limited. It is expected that the price of molybdenum iron will remain stable with a slight increase in the near future.
(China Metallurgical News, June 11, 2025, Page 6)
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