Iron ore futures trended weaker today. The most-traded DCE I2609 contract closed at 739.5 yuan/mt, down 1.00%. Spot prices at Qingdao Port fell about 4-8 yuan/mt from the previous trading day. Traders' quoting enthusiasm was moderate, and steel mills were in a rather wait-and-see mood. As of now, spot transaction volumes were moderate. According to the latest SMM survey, the blast furnace capacity utilization rate among sample steel mills was 89.49%, down 0.50 percentage point WoW. Their daily average hot metal output was 2.4247 million mt, down 13,500 mt WoW. Although the intensity of environmental protection-driven production restrictions fell short of expectations, hot metal output is still expected to continue its downward trend. Meanwhile, environmental protection and safety inspection factors have not yet subsided, and some steel mills may arrange temporary maintenance. Overall, blast furnace hot metal output is likely to continue declining in the near term, and iron ore demand is expected to remain weak. Therefore, iron ore prices are expected to consolidate with a bearish bias in the near term. [SMM Steel]

Thyssenkrupp Steel announced that it has slightly reduced blast furnace production at its Duisburg steelworks due to critically low water levels on the Rhine River. The severe weather conditions have constrained the inflow of raw materials, forcing the steelmaker to suspend its own barge operations and charter alternative vessels with a shallower draught. The Rhine logistics disruption has led to increased freight costs across the German industrial sector, although Thyssenkrupp noted that customer deliveries are not currently at risk.

Iron ore futures traded weakly today, recovering slightly in the afternoon. The most-traded DCE contract I2609 closed at 749 yuan/mt, up 1.13%. Spot prices at Qingdao Port fell about 5–12 yuan/mt from the previous trading day. Trader quoting enthusiasm was mediocre, and steel mills' purchase willingness was also mediocre. Spot trading volume was mediocre. Supply-side pressure on iron ore has yet to emerge, and overall inventory remains in a destocking channel. As of last weekend, total iron ore inventory at 35 major domestic ports was 145.13 million mt, down 2.03 million mt WoW; the daily average port pick-up volume edged down 55,000 mt to 3.22 million mt. Meanwhile, blast furnace maintenance intensity further increased. According to SMM statistics, the hot metal impact from blast furnace maintenance this week was 1.3584 million mt, up 67,500 mt WoW from the previous week. The impact next week is expected to be 1.5097 million mt, up 151,300 mt WoW, which is expected to keep demand on a declining trend. Based on supply-demand fundamentals, short-term iron ore prices are expected to consolidate on a subdued trend. [ SMM Steel ] Note : The above information is compiled based on market communication and information from public channels, and does not constitute valid investment advice .

Today's iron ore futures trended weakly, with a slight recovery in the afternoon. The most-traded DCE I2609 contract closed at 749 yuan/mt, up 1.13%. Spot prices at Qingdao Port fell about 5-12 yuan/mt from the previous trading day. Traders' quoting enthusiasm was moderate, and steel mills' purchase willingness was also moderate. Spot trading volumes were mediocre so far. Currently, supply-side pressure on iron ore has not yet become pronounced, and overall inventory is still on a destocking track. As of last weekend, total iron ore inventory at 35 major ports nationwide was 145.13 million mt, down 2.03 million mt WoW; daily average port pick-up volume edged down 55,000 mt to 3.22 million mt. Meanwhile, blast furnace maintenance intensity further increased. According to SMM statistics, this week's hot metal impact from blast furnace maintenance was 1.3584 million mt, up 67,500 mt WoW. Next week's hot metal impact is estimated at 1.5097 million mt, up 151,300 mt WoW from this week. Demand side, it is therefore expected to keep weakening. From the perspective of overall supply-demand fundamentals, iron ore prices are expected to consolidate on a subdued note in the short term. [SMM Steel]

[SMM Coking Coal and Coke Daily Brief] Coking coal market: Linfen low-sulphur coking coal quoted at 2,020 yuan/mt. Coking coal, safety inspections remain stringent, and progress in resuming production at coal mines is slow. The tight supply situation for coking coal has not changed. Recently, the wait-and-see sentiment has been strong, some high-priced coal types still have expectations of price cuts, online auctions are sluggish, and transaction prices continue to pull back. In the short term, the coking coal market is likely to be in the doldrums. Coke market: Quasi-first-grade metallurgical coke, dry quenched, nationwide average price at 2,090 yuan/mt. Supply side, most coke enterprises have certain profits and maintain operations at previous levels. However, in some regions, coke enterprises are under increasing pressure to ship, with coke inventory accumulating at plants, leading to higher sales pressure. Demand side, steel mill profits are poor, blast furnace production cuts and maintenance are further intensifying, coke rigid demand is under pressure and pulling back. Most steel mills are controlling the volume of coke purchases. In summary, market sentiment has turned cold, and the short-term coke market will be in the doldrums. The first round of coke price cuts is about to be implemented. [SMM Steel]

[SMM Weekly Maintenance Statistics] According to SMM statistics, this week (July 18 to July 24), the hot metal impact from blast furnace maintenance was.....

[SMM Survey: Central China Wire Rod Weekly Survey: Rebar and Wire Rod Production Increases, Next Week's Performance to Diverge] During the survey period (July 14 - July 20), the operating rate of rebar and wire rod in the Central China region remained stable, while the capacity utilization rate edged up.

[SMM Daily Briefing on Coking Coal and Coke] Coking Coal Market: Linfen low-sulphur coking coal is quoted at 2,020 yuan/mt. In coking coal, safety supervision remains stringent, and the release of coking coal supply is still constrained. Currently, the overall market is dominated by a wait-and-see sentiment, downstream procurement is generally cautious, new orders at coal mines are relatively scarce, transactions for some high-priced coal varieties remain weak, online auctions for coking coal are gradually weakening, and shipment pressure at mines is evident. In the short term, the coking coal market may consolidate on a subdued note. Coke Market: The nationwide average price of quasi-first-grade metallurgical coke (coke dry quenching) is 2,090 yuan/mt. In terms of news, some steel mills plan to reduce wet-quenched coke prices by 50 yuan/mt and dry-quenched coke prices by 55 yuan/mt, effective at 00:00 on July 22, 2026. Supply side, current profitability per tonne of coke at coke plants is moderate, and production remains stable. However, coke producers are facing shipment difficulties, and coke inventory at plants is experiencing a buildup. Demand side, steel prices have fallen and end-use demand has not improved. Some steel mills are gradually carrying out blast furnace maintenance plans, leading to a pullback in daily average hot metal production. Mills are controlling the arrival pace of coke. In summary, with an increase in blast furnace shutdowns and maintenance, steel mills' willingness to propose price cuts has risen. The coke market is expected to be in the doldrums in the short term, with price cut expectations.[SMM Steel]

This week, the ferrous metals sector rebounded slightly overall, with divergence among products: iron ore and hot-rolled coil/rebar performed relatively strong, while coke was relatively weak. Early in the week, affected by sluggish end-use consumption in the off-season and continued pressure on steel mill profits, futures for all products consolidated and weakened; mid-week, driven by the combined effects of rumors of a BHP worker strike, the repeated US-Iran geopolitical conflicts, and rising expectations of environmental protection-driven production restrictions in Tangshan, iron ore and hot-rolled coil/rebar spot and futures prices saw a period of stabilization and rebound. However, from a fundamental perspective, the off-season characteristics on the demand side remained......

July 17 – North China ports: 46% Australian lumps 42.5-43 yuan/mtu, down WoW; South African semi-carbonate 35.7-36.2 yuan/mtu, down WoW; Gabonese 40-40.4 yuan/mtu, down WoW; South African high-iron 30-30.5 yuan/mtu, flat WoW; South African mid-iron 36-36.5 yuan/mtu, down WoW. South China ports: 46% Australian lumps 43.2-43.7 yuan/mtu, flat WoW; South African semi-carbonate 36.8-37.1 yuan/mtu, flat WoW; Gabonese 40.9-41.4 yuan/mtu, down WoW; South African high-iron 32.3-32.8 yuan/mtu, flat WoW; South African mid-iron 37.5-38 yuan/mtu, up WoW.