[SMM Iron Ore] Softer spot prices narrow imported iron ore margins to 9.60 yuan/mt

Published: Oct 13, 2026 11:03 (GMT+8)

Save

The average imported iron ore margin narrowed from 15.37 yuan/mt to 9.60 yuan/mt this period, dragged down by falling port spot prices.

On fundamentals, supply has eased slightly but the market remains comfortably supplied. With more blast furnace maintenance reported after the holiday, the market is broadly pessimistic on near-term iron ore demand, buying appetite is weak and prices have held at low levels. Notably, while the first round of coke price cuts has improved mill margins, it has yet to translate into additional iron ore buying given soft end-use demand.

Iron ore demand is likely to stay low in the near term, leaving prices rangebound at low levels. Should freight rates and premiums soften in step, imported margins could hold a small profit.

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

18 hours ago

[SMM Iron Ore] Coke price cuts fail to lift iron ore buying as prices stay low

18 hours ago

19 hours ago

[SMM Steel] India Steel Prices Fall Amid Subdued Trading

[India Domestic] India’s domestic prices declined across cities on Oct 12 from Oct 9 amid cautious buying and limited demand support. Trading activity remained subdued as buyers focused mainly on immediate requirements rather than fresh restocking. Mumbai rebar flat at 561 USD/tonne (53,700 INR/tonne) EXW Mumbai. Mumbai rebar prices unchanged for a week. PDRI sponge iron down 6 USD/tonne (600 INR/tonne) to 301 USD/tonne (28,800 INR/tonne) EXW Raipur. While Bellary PDRI also declined 5 USD/tonne (500 INR/tonne) to 308 USD/tonne (29,500 INR/tonne) EXW Bellary. A Few trades concluded at the current price level. Market participants expect prices to soften further to around 305-306 USD/tonne (29,200-29,300 INR/tonne). Alang Melting down 8 USD/tonne (800 INR/tonne) to 381 USD/tonne (36,500 INR/tonne) ex-yard Alang. Mandi ingot dropped 6 USD/tonne (600 INR/tonne) to 496 USD/tonne (47,500 INR/tonne) EXW Mandi. Billet down 10 USD/tonne (1,000 INR/tonne) to 466 USD/tonne (44,600 INR/tonne) EXW Raipur.

19 hours ago

20 hours ago

[ ArcelorMittal Kryvyi Rih Placed on Cold Standby Mode ]

ArcelorMittal announced on October 11, 2026, that it is placing its massive Kryvyi Rih steelworks in Ukraine into cold standby mode following severe missile attacks that halted primary steel production. The critical safety maneuver will take two months to complete, preserving the industrial assets for potential future restarts. The indefinite curtailment of this strategic facility removes a massive volume of Eastern European long products and merchant pig iron from the regional supply chain. [SMM Iron Ore]

20 hours ago