Industry Data Performs Poorly, Iron Ore Prices Remain Stable [SMM Commentary]

Published: Jan 23, 2025 16:48 (GMT+8)

Save

Today, Dalian iron ore futures moved downwards after a higher opening, fluctuating throughout the day. The most-traded I2505 contract finally closed at 801.5, up 0.44% for the day. Traders sold cargoes based on market trends, while steel mill inquiries decreased. Market transactions were sluggish today, with transaction prices remaining basically stable compared to yesterday. Industry data released today showed that apparent demand for rebar and HRC both pulled back, while total inventory growth expanded. Overall performance was mediocre, exerting some influence on the price trends of ferrous products. However, from the perspective of iron ore fundamentals, fluctuations were relatively small, maintaining an upward fluctuation pattern. In the short term, spot trading is nearing its end, market transactions are becoming increasingly sluggish, and futures market movements are primarily rangebound. ......

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

》Subscribe to View SMM Historical Spot Metal Prices

Today, DCE iron ore futures moved downwards after a higher opening, fluctuating throughout the day. The most-traded I2505 contract finally closed at 801.5 yuan/mt, up 0.44% for the day. Traders followed the market trend to sell, while steel mill inquiries decreased. The market saw sluggish transactions today. In Shandong, mainstream transaction prices for PB fines were around 790 yuan/mt, basically stable compared to yesterday; in Tangshan, transaction prices for PB fines were around 810-815 yuan/mt, also basically stable compared to yesterday. Industry data released today showed that apparent demand for rebar and HRC both pulled back, while total inventory growth expanded. Overall performance was mediocre, exerting some influence on the price trends of ferrous products. However, from the perspective of iron ore fundamentals, fluctuations were relatively small, maintaining an upward fluctuation pattern. In the short term, as spot trading approaches its end, market transactions are becoming increasingly sluggish, with futures market movements primarily rangebound.

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

[ EUROFER Reports EU Steel Exports Fell 20% in First Half of 2026 ]

The European Steel Association (EUROFER) reported on October 1, 2026, that EU steel exports to third countries plummeted by 20% year-on-year in the first half of 2026. Shipments of finished steel products dropped 18%, driven by a 19% decline in flat products and a 15% fall in long products, while total EU crude steel production remains suppressed near its historic low of 125.8 million tonnes. The association warned that high regional energy costs continue to severely degrade Europe's global export competitiveness against lower-cost Asian mills. [SMM Iron Ore]

1 hour ago

[ EUROFER Lowers EU Apparent Steel Consumption Forecast for 2026 ]

During its latest Economic and Steel Market Outlook published on October 1, 2026, EUROFER officially downgraded its demand projections, forecasting that EU apparent steel consumption will grow by a stagnant 0.1% for the entirety of 2026. While the association anticipates a slight recovery with 2.3% volume growth in 2027, the near-term stagnation reflects persistent industrial contraction and high operational costs forcing integrated producers across the continent to curtail blast furnace output. [SMM Iron Ore]

1 hour ago

[ Trasteel Receives EU Approval to Acquire 600,000-Tonne Magona Steel Plant ]

The European Competition Authority officially granted regulatory approval for Swiss-Italian trading group Trasteel to acquire the Magona steel plant in Piombino, Italy, with the transfer effective October 1, 2026. The Magona facility operates downstream pickling, cold-rolling, and galvanizing lines with a combined processing capacity of approximately 600,000 tonnes per year. The strategic acquisition secures local manufacturing capacity and transitions over 500 employees, verticalizing Trasteel’s regional distribution network ahead of tightening carbon import regulations. [SMM Iron Ore]

1 hour ago