MMi Daily Iron Ore Report (September 8)

Published: Sep 8, 2026 18:07

Save

Iron ore futures traded firmer on Tuesday. The DCE most-traded I2701 contract settled at 744.5 yuan/mt, up 1.36% from the previous session. Qingdao port spot prices rose by an average of 6-7 yuan/mt, with traders showing only moderate enthusiasm in offering and mills largely holding to the sidelines. Overall spot trading activity was subdued.

Steel

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 for 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

1 hour ago

[SMM HRC Arrivals] Arrivals Mixed WoW This Week

1 hour ago

[SMM Steel Export Analysis] August Steel Exports Edged Up; Order Recovery Underpins Further Gains in September

1 hour ago

2 hours ago

[SMM Sheets & Plates Daily Review] HRC prices are expected to stay high in the short run

Today, the most-traded HRC contract rose all the way, closing at 3,395, up 0.62% on the day. In the spot market, HRC prices gained 10-20 yuan/mt, while CRC prices were flat. Transactions improved slightly today, mainly driven by spot-futures purchases, while end-users remained cautious. According to an SMM survey, the impact from maintenance on HRC output this week stood at 131,000 mt, down 43,200 mt WoW. Next week, the impact is expected at 180,100 mt, up 49,100 mt WoW, suggesting an increase in supply. Demand side, the market has entered the verification period of the September-October peak season, but overall, end-user order-taking fell short of expectations, with no significant purchasing activity released. As the spot-futures price spread narrowed, buying interest in futures improved. Overall, the weak fundamentals of sheets & plates will continue to cap the upside room of futures, but the cost side remains supportive in the short term. Therefore, HRC prices are expected to stay high in the short run.

2 hours ago