DCE iron ore futures trended weaker today, with the I2609 contract closing at 734 yuan/mt, down 1.74% from the previous trading day. Port spot prices fell by 3–8 yuan/mt compared to the previous trading day. Trader activity was moderate, and steel mill purchases were mostly for restocking. As of now, spot trading volume was moderate. According to an SMM survey, total iron ore inventory across 35 main ports nationwide stood at 148.3 million mt this week, down 360,000 mt WoW, indicating a slight overall destocking. Over the same period, the daily average port pick-up volume edged up 68,000 mt to 3.298 million mt, reflecting relatively healthy short-term demand. Next week, port arrivals are expected to continue increasing, leading to a more ample supply, while port pick-up volume may pull back as hot metal production gradually declines. Iron ore price support has weakened, but short-term prices are likely to fluctuate within a range amid supply-demand conditions in line with market expectations. [SMM Steel]

According to SMM survey, on July 2, total inventory at 10 ports tracked by SMM was 109.46 million mt, down 130k mt MoM. Coarse fines and pellets saw slight destocking, while concentrates and lump ore saw slight inventory buildup

Today, DCE iron ore futures started weak and strengthened later, with contract I2609 eventually closing at 746 yuan/mt, up 0.67% from the previous trading session. Port spot prices were unchanged from the previous trading day. Trader activity was moderate, and steel mills purchased as needed. Spot trading volumes were mediocre as of now. In the short term, the iron ore supply side continues to ease. According to SMM data, China's iron ore port arrivals reached 29.33 million mt last week, up 5.47% WoW and 5.94% YoY. Meanwhile, SMM's total iron ore inventory across 35 ports reached approximately 148 million mt based on the latest data, with overall destocking beginning to slow down. As downstream demand weakens, pressure on the iron ore supply side is gradually emerging, continuing to cap the price ceiling. Meanwhile, bullish and bearish rumors are intertwined in the news, which may drive iron ore prices to edge up slightly in the near term. Taking all factors into account, the market may continue its sideways consolidation pattern in the near term. [SMM Steel]

Today, the DCE iron ore futures trended in the doldrums. The most-traded I2609 contract closed at 764 yuan/mt, down 0.33% from the previous trading session. Port spot prices were unchanged from the previous day. Traders showed moderate quoting activity; steel mills purchased as needed with few inquiries, and spot trading volume was low so far. According to SMM survey data, as of today, total iron ore inventory at major Chinese ports reached 149.35 million mt, up 960,000 mt WoW. Inventory edged up slightly, while average daily port pick-up volume edged up by 68,000 mt to 3.268 million mt. Overall, iron ore supply was on the loose side, placing strong downward pressure on ore prices. Additionally, the seventh round of coke price increases was formally announced today, and steel mill profits are expected to contract, intensifying market bearish sentiment on iron ore prices. Overall, ore prices currently face significant resistance to gains and are expected to continue hovering at lows in the near term.

On May 15, 2026, iron ore futures showed a weak trend. The most-traded contract I2609 closed at 809.5 yuan/mt, down 0.67% from the previous trading session. Port spot prices fell 2-5 yuan from the previous day. Traders showed moderate enthusiasm in offering quotes; steel mills purchased as needed; overall spot transaction activity was relatively tepid. According to the latest SMM statistics, total iron ore inventory at 35 main ports nationwide stood at 148.76 million mt, down 1.09 million mt WoW. Overall inventory saw slight destocking, with supply tightening marginally, though remaining relatively ample overall. Meanwhile, some blast furnaces were under maintenance, and daily average hot metal production pulled back slightly. Daily average port pick-up volume edged down 21,000 mt to 3.244 million mt. Although pig iron production pulled back due to individual blast furnaces entering maintenance, given the robust demand for steel outside China and relatively comfortable profit margins at steel mills, iron ore fundamentals remained well-supported. Therefore, iron ore prices are expected to continue fluctuating at highs in the short term until new developments enter the market. [SMM Steel]

On May 8, 2026, iron ore futures showed a fluctuating trend in the morning session and pulled back slightly in the afternoon. The most-traded contract I2609 ultimately closed at 814.5 yuan/mt, down 0.06% from the previous trading session. Port spot prices were basically flat compared to the previous day. Traders showed low enthusiasm in offering prices, and most steel mills maintained a wait-and-see stance, with purchases mainly driven by rigid demand. The overall spot trading atmosphere was lukewarm. Recently, iron ore inventory continued its destocking trend, but the pace of destocking began to slow down as steel mills' purchase willingness weakened after the holiday. According to the latest SMM statistics, total iron ore inventory at 35 main ports nationwide stood at 149.85 million mt, down 230,000 mt WoW, indicating slight destocking overall. During the same period, daily average port pick-up volume edged down by 40,000 mt to 3.265 million mt. As shipments from Australia and Brazil rebound, the iron ore supply side may re-enter an inventory buildup phase. Going forward, continued attention should be paid to the pace of steel mill production cuts and the recovery of end-use demand. In the short term, ore prices may edge lower slightly, but overall are expected to fluctuate at highs.

On April 30, 2026, DCE iron ore futures strengthened, with the most-traded contract I2609 closing at 796 yuan/mt, up 1.60% from the previous trading session. Spot prices rose 2-5 from the previous day. Traders showed moderate enthusiasm in quoting, steel mills restocked on demand with few inquiries; overall spot transactions were lackluster. According to the latest SMM statistics, total iron ore inventory at 35 main ports nationwide stood at 150.08 million mt, down 1.09 million mt MoM, showing slight destocking. Meanwhile, daily average port pick-up volume rebounded to 3.305 million mt, up 118,000 mt WoW. Although hot metal production pulled back slightly WoW, the overall destocking trend indicated that iron ore demand remained relatively strong. Currently, restocking demand ahead of the Labour Day holiday has largely concluded, and upward momentum driven by fundamentals is expected to weaken in the short term. On the other hand, affected by related policy adjustments, market panic emerged over iron ore and downstream trade liquidity, with sentiment continuing to ferment, driving iron ore spot prices to rise sharply. In the short term, iron ore prices may still hold up well, but close attention should be paid to potential impacts from shifts in market sentiment.

DCE iron ore futures trended stronger today. The most-traded contract I2609 ultimately closed at 778.5 yuan/mt, up 0.39% from the previous trading session. Spot prices fell 3-5 yuan/mt from the previous trading day. Traders were active in quoting, while steel mills purchased mainly based on immediate needs with few inquiries; overall spot cargo transactions were mediocre. Fundamentals side, the latest SMM statistics showed that total iron ore inventory at 35 main ports nationwide stood at 152.58 million mt, down 610,000 mt WoW, with overall inventory seeing slight destocking. Meanwhile, daily average port pick-up volume rebounded to 3.13 million mt, an increase of 60,000 mt WoW. Iron ore port inventory showed a slight destocking trend this week, reflecting solid overall iron ore demand. As blast furnace operating rates remained at elevated levels, port pick-up volume is expected to continue growing in the short term, providing relatively firm support for iron ore prices on the downside. Looking ahead to next week, the release of port spot cargo inventory may increase iron ore supply in the short term and slightly weigh on upward momentum for ore prices. Therefore, on a comprehensive basis, iron ore prices are likely to move sideways within a range next week.

According to an SMM survey on April 2, total iron ore inventory across the 10 major ports tracked by SMM stood at 119.31 million tonnes, marking a week-on-week increase of 190,000 tonnes. Inventories of coarse fines and concentrates accumulated slightly, while lump ore and pellets experienced slight destocking.

Dalian iron ore futures were generally stronger today. The most-traded contract, I2605, eventually closed at 816.5 yuan/mt, up 1.81% from the previous trading session. Meanwhile, the spot price rose by about 5 yuan from the previous trading day. Traders were moderately active in offering quotes, while steel mills made relatively few inquiries. Overall spot market transactions were limited. The latest SMM survey showed that the impact of blast furnace maintenance on hot metal production was 1.751 million mt, down 250,000 mt WoW. This impact is expected to further decline by 229,800 mt next week to 1.522 million mt. As blast furnace maintenance intensity gradually eases, iron ore demand is expected to show signs of rebounding in the short term. Looking ahead, although current port iron ore inventory has reached 155 million mt, the overhang is mainly concentrated in certain varieties. Overall, market demand for some high-demand varieties has seen a structural shift. In particular, varieties represented by IOCJ fines and PB lumps continued to destock rapidly, while MAC fines and Indian fines saw an inventory buildup. The structural contraction on the supply side is expected to lend favorable support to iron ore fundamentals in the short term. Therefore, iron ore prices are expected to fluctuate at highs or remain relatively strong this week.