China Iron and Steel Association said prices of key raw materials including coking coal, coke, ferroalloys and scrap steel remain elevated, increasing cost pressure on steelmakers. Officials noted that amid Middle East tensions, higher oil prices have pushed up mining and shipping costs and lifted inflation expectations. Despite iron ore port inventories reaching a record 170 million tons in April, imported iron ore prices remain range-bound at $105–110/ton.

2026-04-29

China Iron and Steel Association said prices of key raw materials including coking coal, coke, ferroalloys and scrap steel remain elevated, increasing cost pressure on steelmakers. Officials noted that amid Middle East tensions, higher oil prices have pushed up mining and shipping costs and lifted inflation expectations. Despite iron ore port inventories reaching a record 170 million tons in April, imported iron ore prices remain range-bound at $105–110/ton.