The surge in coal and coke boosted iron ore market sentiment [SMM Iron Ore Daily Brief]

Published: Aug 11, 2026 17:04

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Today, iron ore futures showed strong performance. The most-traded DCE I2609 contract closed at 721.5 yuan/mt, up 1.26% from the previous trading session. Spot prices at Qingdao Port averaged an increase of about 3–6 yuan/mt from the previous trading day. Traders were active in quoting, mostly following market trends, while steel mills purchased as needed. Overall spot transaction volumes were average so far today.

In the short term, changes in iron ore’s own fundamental supply-demand relationship were relatively small, and demand is expected to increase slightly. According to SMM statistics, the impact on hot metal output from blast furnace maintenance this week was 1.4057 million mt, down 34,400 mt WoW. Next week’s impact on hot metal output is 1.3498 million mt, down 55,900 mt WoW.

Meanwhile, coal and coke futures showed strong performance today. The market showed optimism toward ferrous metals futures, which in turn pushed up iron ore futures prices. On balance, iron ore prices may continue to consolidate within a range with a slightly strong bias in the short term. [SMM Steel]

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