Port Inventory Slightly Destocked, Iron Ore Prices Show a Stronger Trend [SMM Brief Review]

Published: Jan 10, 2025 17:04

Save

Today, Dalian iron ore fluctuated upward throughout the day. The most-traded I2505 contract finally closed at 753.5 yuan/mt, with a daily increase of 0.53%. Traders showed moderate enthusiasm for selling, while steel mills reduced their inquiries. The market transaction atmosphere was average today. In Shandong, the mainstream transaction prices for PB fines were 760-765 yuan/mt, up by 0-5 yuan/mt compared to yesterday; in Tangshan, the transaction prices for PB fines were 775-780 yuan/mt, also up by 0-5 yuan/mt compared to yesterday. Looking ahead to next week, considering the continued increase in pig iron production from steel mills' blast furnaces, port pick-up volume is expected to rise further, and port inventory may see a slight decline. This is expected to provide some support to ore prices, with iron ore prices likely to fluctuate rangebound next week. ......

》View SMM Steel Product Prices, Data, and Market Analysis

》Subscribe to Access Historical SMM Metal Spot Prices

Today, DCE iron ore fluctuated upward throughout the day. The most-traded I2505 contract closed at 753.5, up 0.53% for the day. Traders showed moderate enthusiasm for selling, while steel mills reduced inquiries. The market transaction atmosphere was average. In Shandong, mainstream transaction prices for PB fines were 760-765 yuan/mt, up 0-5 yuan/mt from yesterday. In Tangshan, PB fines traded at 775-780 yuan/mt, also up 0-5 yuan/mt from yesterday.

As of January 10, according to SMM monitoring data, total inventory at 35 ports reached 146.33 million mt, up 1.1 million mt WoW and up 23.48 million mt YoY. Daily average port pick-up volume for imported ore was 3.149 million mt, up 69,000 mt WoW and up 150,000 mt YoY. This week, port arrivals increased significantly. On the demand side, SMM tracking showed that pig iron production from steel mill blast furnaces rose notably this week. Combined with stockpiling activities ahead of the Chinese New Year, this drove up port pick-up volumes. However, due to the significant increase in port arrivals, port inventories showed an accumulation trend. Looking ahead to next week, considering that pig iron production from steel mill blast furnaces is still rising, port pick-up volumes are expected to continue increasing, while port inventories may see a slight decline. This is expected to provide some support to ore prices, with iron ore prices likely to fluctuate rangebound next week.

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 to learn 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

Feb 6, 2026 18:30

Before the holiday, the black chain is unlikely to see a trend-driven market [SMM Steel Industry Chain Weekly Report].

This week, ferrous metals were in the doldrums, with coking coal and coke staging a mid-week rise. At the beginning of the week, financial markets experienced sharp fluctuations, dragging down sentiment in the ferrous chain and leading to a pullback in futures. Mid-week, Indonesia's cut to coke production quotas drove coking coal and coke futures to lead the gains, though the impact was more pronounced on thermal coal, while coking coal's rise was largely sentiment-driven and short-lived. In the latter part of the week, finished products continued their seasonal inventory buildup, and support from the raw material side weakened, causing the entire ferrous chain to pull back. In the spot market, with the Chinese New Year holiday approaching, purchasing activity slowed down further, with end-users only making limited, as-needed purchases at low prices.

Feb 6, 2026 18:30

Feb 6, 2026 18:09

MMi Daily Iron Ore Report (February 6)

Today, the DCE iron ore futures continued to hit bottom today, with the most-traded contract I2605 closing at 760.5 yuan/mt, down 1.23% from the previous trading day. Spot prices fell by 5–10 yuan/mt compared to the previous trading day.

Feb 6, 2026 18:09

Feb 6, 2026 17:41

[SMM Chromium Daily Review] Inquiries and Transactions Weakened, Chromium Market Showed Mediocre Performance Before the Holiday

[SMM Chrome Daily Review: Trading and Inquiries Weakened, Chrome Market Showed Mediocre Performance Before the Holiday] February 6, 2026: Today, the ex-factory price of high-carbon ferrochrome in Inner Mongolia was 8,500-8,600 yuan/mt (50% metal content), flat MoM from the previous trading day...

Feb 6, 2026 17:41