News Drives Sentiment Improvement, Iron Ore Prices See Minor Rebound [SMM Brief Review]

Published: Feb 25, 2026 17:38

Save

Iron ore futures rebounded slightly today, with the most-traded contract I2605 closing at 752.5 yuan/mt, up 1.42% from the previous trading day. Spot prices rose by 5–10 yuan/mt compared to the previous trading day. Traders' shipment enthusiasm was moderate, steel mills' inquiries were moderate, but purchase willingness was average. Overall market trading activity was sluggish. According to the SMM survey, on February 25, the blast furnace operating rate of 242 steel mills surveyed by SMM was 87.19%, up 0.23 percentage points WoW from before the holiday. Daily average hot metal output from sampled steel mills was 2.3937 million mt, up 7,700 mt WoW from before the holiday. This week, although individual steel mills suspended production due to unexpected blast furnace accidents, the duration was short. Overall hot metal output still increased, providing some support for ore prices. In addition, with the approaching Two Sessions and increasing real estate news recently, market sentiment improved, and ore prices rebounded along with the industry. However, considering environmental protection-driven production restrictions in north China during the Two Sessions may curb iron ore demand, upward resistance for ore prices remains significant, and prices may fluctuate rangebound in the short term.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

25 mins ago

【SMM Steel】British Steel moves toward full nationalization

【SMM Steel】British Steel is expected to be fully nationalized within weeks. The UK government took over operations from China's Jingye Group in April 2025 to prevent the Scunthorpe plant's closure. Steel has been designated a national security industry. The Scunthorpe plant has the UK's last two blast furnaces. Operating costs hit £377m by Jan 2026. British Steel supports nationalization for stability. Any new owner must invest heavily in EAF technology to replace blast furnaces.

25 mins ago

14 hours ago

[SMM Steel] SMS Group wins SAIL Durgapur billet caster modernization project

[SMM Steel] Germany’s SMS Group secured a contract from India’s SAIL to modernize billet casters at the Durgapur Steel Plant. The upgrade of two six-strand casters is expected to boost production capacity by over 60% and introduce a 150 mm × 150 mm billet section to support downstream rebar and wire rod production. The project will be implemented in two phases, with commissioning planned for Q4 2027 and Q3 2028.

14 hours ago

[SMM Steel] US drawn wire exports rise 12.5% MoM in January 2026

[SMM Steel] US drawn wire exports totaled 6,737 mt in January 2026, up 12.5% MoM but down 15% YoY, according to the US Department of Commerce. Canada remained the top destination with 2,831 mt, followed by Mexico at 2,702 mt, while export value reached $18.1 million.

14 hours ago