[China Iron Ore Brief Review] In west Liaoning, local iron ore concentrates prices fell slightly by 5 yuan/mt, with the ex-factory prices of 66-grade iron ore concentrates, wet basis and excluding tax, at 735-740 yuan/mt; recently, production at some local mines and beneficiation plants was hindered by environmental protection inspections, leaving overall iron ore concentrates resources relatively tight. Demand side, steel mills were mainly purchasing as needed, and the whole

Iron ore futures showed a stronger trend in the morning session today but weakened in the afternoon. The main contract I2605 eventually closed at 805 yuan/ton, down 1.29% from the previous trading session.

[China Iron Ore Brief Review: Iron Ore Concentrates Prices in the Tangshan Region May Remain in the Doldrums. Iron ore prices in the Tangshan region fell slightly by 5-10 yuan, with the current ex-factory prices of 66-grade iron ore concentrates, dry basis and tax included, at 970-975 yuan/mt; there have been no significant changes on the ore side at present, and overall iron ore concentrates resources remain relatively tight. Demand side, steel mills are still largely maintaining normal production as planned, but their overall desire to bargain down prices remains relatively strong, and market sentiment is marked by pronounced game-playing]

Dalian iron ore futures held up well in morning trading today before pulling back in the afternoon. The most-traded contract, I2605, finally closed at 812 yuan/mt, up 0.12% from the previous trading session. Spot prices rose by about 2 yuan from the previous trading day. Traders were moderately active in offering quotes, while steel mills mainly purchased to restock for immediate needs, with inquiries remaining cautious; as of now, transactions in the spot market were relatively sluggish. As for this week’s fundamental data, according to SMM monitoring data on daily average hot metal production, the blast furnace operating rate recently rose 1.05% WoW to 89.71%; daily average hot metal production reached 2.436 million mt, an increase of 25,700 mt WoW. The continued stable resumption of blast furnace production over the past three weeks effectively boosted rigid demand for iron ore raw material, providing solid bottom support for ore prices. Overall, iron ore fundamentals showed a pattern of strong downside support and upside pressure from inventory. In the short term, ore prices were expected to move sideways in a narrow range, until new information or changes emerged in the market, which could trigger corresponding fluctuations.

Iron ore futures experienced volatile trading, opening higher but weakening throughout the day. The main contract I2605 eventually closed at 808 yuan/ton, down 0.80% from the previous trading session.

[China Iron Ore Brief Review: Iron Ore Concentrate Prices in the Tangshan Region May Hold Up Well] In Shandong, the pre-tax dry-basis price of 64-grade alkaline fines at mines and beneficiation plants fell by 5 yuan to 894 yuan, and steelmakers lowered prices in tandem. Most miners maintained normal production, with no significant inventory buildup and basically no inventory at most operations. Steelmakers continued to purchase under long-term contracts, mainly purchasing as needed while maintaining low inventory operations. On the news front, external market disruptions remained unabated, and imported ore prices stayed at a relatively high level, which may provide some support for domestic iron ore

Dalian iron ore futures were in the doldrums today after rising at the open. The most-traded contract, I2605, finally closed at 808 yuan/mt, down 0.80% from the previous trading session. Spot prices fell by about 5 yuan from the previous trading day. Traders were moderately active in offering quotes, while steel mills mainly restocked to meet rigid demand, with inquiries remaining cautious; as of now, spot market transactions were relatively sluggish. On the fundamentals, SMM’s weekly maintenance statistics showed that blast furnace maintenance affected hot metal production by 1.4281 million mt this week, down 186,100 mt YoY. The impact of maintenance was expected to ease further next week, by about 40,000 mt. Therefore, rigid demand for iron ore remained relatively strong this week, providing solid downward support for ore prices. However, iron ore prices faced clear upward pressure. On the one hand, port inventory remained at a relatively high level (about 155 million mt); on the other hand, the relatively high price level suppressed spot market trading activity, leaving insufficient upward momentum for iron ore. In summary, iron ore prices were expected to fluctuate within a range in the short term, with the overall market remaining in a stagnant state.

Dalian iron ore futures were in the doldrums today after rising at the open. The most-traded contract, I2605, finally closed at 813 yuan/mt, up 0.06% from the previous trading session. Spot prices were basically stable from the previous trading day. Traders showed mediocre willingness to offer quotes, while steel mills made fewer inquiries; as of now, spot market transactions were limited. SMM shipping data showed that the iron ore supply side tightened somewhat this week. Affected by the Australian cyclone, global total shipments fell 14.8% WoW to 28.66 million mt. By contrast, China’s total iron ore arrivals fell 1.5% WoW to 26.74 million mt. Meanwhile, port inventory still showed structural divergence: the destocking trend for high-grade fines was evident, but the destocking trend for lump ore slowed down somewhat. Overall, tighter supply, coupled with steady growth on the demand side, determined that support for iron ore prices remained relatively strong this week. However, as the impact of weather factors on shipments weakened and Middle East-returned iron ore increasingly flowed into China, the supply side was still expected to remain relatively loose going forward. Therefore, iron ore prices were expected to continue a fluctuating trend at highs this week.

The iron ore futures rose in early trading before gradually retreating during the day. The main contract I2605 ultimately closed at 812 yuan/ton, down 0.49% from the previous trading session.

Dalian iron ore futures rose in early trading today before slowly pulling back. The most-traded contract I2605 finally closed at 812 yuan/mt, down 0.49% from the previous trading session. Spot prices fell by about 2-5 yuan from the previous trading day. Traders were mediocre in offering quotations, while steel mills restocked as needed; overall transactions in the spot market were limited. Fundamentals, according to the SMM survey, port inventories began to decline slightly this week, with total inventory across 35 ports nationwide down 610,000 mt WoW to 155.78 million mt, a decrease of 0.39%. Meanwhile, port pick-up volume increased by 110,000 mt WoW to 2.855 million mt. Although support below ore prices gradually strengthened along with the pace of hot metal production resumptions, supply side still faced the risk of further increases as weather-related disruptions eased and iron ore returning from the Middle East arrived in China. Overall, upward pressure on ore prices had not yet eased significantly, and with downside support gradually strengthening, prices were expected to fluctuate at highs in the short term.