Today, Dalian iron ore futures continued to decline. The most-traded I2505 contract closed at 751.5 yuan/mt, down 2.21% for the day. Today's trading sentiment was average. Transaction prices fell by 10-15 yuan/mt compared to last Friday. This week, shipments from Australia to China declined significantly, while Brazil's share of shipments to China increased sharply. Overall, the supply of imported ore decreased, easing supply pressure. Considering the current pre-holiday restocking concentration and the rebound in pig iron production, ore prices received some support. The downward space for iron ore is expected to be relatively small...

Domestic Iron Ore Brief: Iron Ore Concentrates Prices in Shandong Region May Fluctuate This week, the leading mines in the Shandong region reported a price of 852 yuan/mt, down by 3 yuan/mt, for 64-grade alkaline concentrates on a dry basis, tax-exclusive, and payment upon delivery. Most mines are operating normally, and steel mills have gradually started restocking ahead of the year-end. Some mines reported that steel mills are scrambling for supplies, with no inventory pressure.

[SMM Shipping Data: SMM Global Iron Ore Shipments Totaled 32.08 Million mt, Down 7.7% MoM] SMM global iron ore shipments totaled 32.08 million mt, down 7.7% MoM. Among them, Australian shipments were 18 million mt (down 7.7% MoM), Brazilian shipments were 7.62 million mt (down 5.2% MoM), and SMM China's iron ore port arrivals totaled 27.09 million mt (up 5.2% MoM).... ...

[Domestic Iron Ore Brief Review: Prices of Iron Ore Concentrates in Tangshan May Slightly Decline] The market for iron ore concentrates in Tangshan has started to weaken, with the delivery-to-factory price for 66-grade dry basis including tax at 960-970 yuan/mt. Leading steel enterprises have a strong desire to bargain down prices, making it increasingly difficult for local resources to rise again, and market transactions have consequently slowed down.

[SMM Iron Ore Weekly Report] Looking ahead to next week, global shipments may fall back from highs. Additionally, due to the previous decline in shipments, port arrivals are also expected to decrease. On the demand side, according to SMM's blast furnace maintenance data, some blast furnaces have production resumption plans next week, and pig iron production is expected to stop declining and rebound. Furthermore, considering that steel mills will become more active in restocking after the New Year, spot iron ore prices are likely to receive some support. Iron ore prices are expected to continue fluctuating upward next week.

Today, iron ore futures dropped significantly. The most-traded I2505 contract closed at 764, down 2.18% for the day. Traders showed moderate willingness to sell. Steel mills have started pre-holiday restocking, with procurement volume increasing significantly WoW. Transaction prices ranged at 780 yuan/mt, down 10-15 yuan/mt from yesterday. Looking ahead to next week, port arrivals are expected to increase slightly. As year-end approaches, steel mills may accelerate restocking, port pick-up volume may rise, and port inventory may show a destocking trend, providing support for spot prices...

According to a feature article in the Australian Financial Review published the day after Christmas, as new supply from Rio Tinto's long-awaited Simandou project in Guinea, Africa, is expected to increase the massive inventory at Chinese ports, and with the US under Trump’s administration planning to raise tariffs, which will hit steel demand in the world's second-largest economy, iron ore prices are expected to remain below $100/mt for most of next year.

Vale has reached a final agreement with the US Department of Energy (DOE) to develop an innovative industrial-scale iron ore briquette plant in Louisiana. The project is part of the DOE's Industrial Demonstrations Program (IDP) and is funded by the Bipartisan Infrastructure Law and the Inflation Reduction Act.