MMI Daily Iron Ore Index Report 16 October 2025

Iron ore concentrate prices in Hebei’s Tangshan region have remained relatively stable in recent days, with ex-mill prices for iron ore grading 66% concentrate (dry basis, including tax) at 920-925 yuan/mt. Supply remains limited, as local governments in Qian’an and Zunhua recently issued written documents regarding land use regulations for iron ore beneficiaries at enterprises, leading to production suspensions and reviews at some non-compliant enterprises, as well as production restrictions and power restrictions. Based on SMM tracking, most of the suspended companies are beneficiaries of plants with relatively small capacity, thus having a limited impact on local iron ore concentrate supplies. On the demand side, local steel mills mostly make purchases according to needs, with a strong desire to bargain prices. Overall, local iron ore concentrate prices are expected to continue to fluctuate at high levels in the short term.

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Source: Metals Market Index (MMI)