Global Iron Ore Total Shipments Down 14% MoM, Iron Ore Supply Side Tightened [SMM Daily Imported Ore Commentary]

Published: Jul 13, 2026 18:00

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Today, DCE iron ore futures prices were under pressure, with the most-traded contract I2609 closing at 744.5 yuan/mt, down about 0.47% from the previous session. Port spot prices fell by about 4-6 yuan/mt from the previous trading day. Traders showed less willingness to quote offers, while steel mill procurement was mainly driven by restocking demand. As of now, spot transaction volumes remained low.

As of last Friday, global iron ore shipments totaled 30.381 million mt, down 14% WoW. Both Australia's and Brazil's shipments experienced significant declines. During the same period, China's iron ore port arrivals reached 25.015 million mt, down 13% WoW. Supply side, ore supply tightened in the short term, but given high port inventory levels (147 million mt), the overall supply side remained relatively loose. As pig iron production entered a downward trajectory, iron ore demand is expected to weaken further. Therefore, from a fundamental perspective, iron ore prices this week will see slight fluctuations with a downward bias. [SMM Steel]

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