Fundamentals Provide Support, Iron Ore Prices May Fluctuate Upward [SMM Commentary]

Published: Feb 08, 2025 17:32 (GMT+8)

Save

No futures market guidance today. Market quotations increased by 2-5 yuan/mt compared to yesterday. Some traders followed the trend to sell. Steel mill inquiries were limited, and market transactions were sluggish. In the short term, extreme weather has been frequent this year, and global iron ore shipments are lower YoY. Short-term supply is still expected to decline, providing support for ore prices. Additionally, with the Two Sessions scheduled for early March, market expectations are gradually strengthening. It is expected that ore prices may continue to fluctuate upward in the short term...

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

》Subscribe to Access Historical Spot Prices of SMM Metals

There was no futures market guidance today. Market quotations rose by 2-5 yuan/mt compared to yesterday. Some traders followed the market trend to sell. Steel mill inquiries were limited, and market transactions were sluggish. In Shandong, the mainstream transaction price of PB fines was 810 yuan/mt, up by 2 yuan/mt from yesterday; in Tangshan, the transaction price of PB fines was around 825 yuan/mt, remaining stable compared to yesterday.
There was limited market news today, and without futures market guidance, market prices remained stable. In the short term, with extreme weather events occurring frequently this year, global iron ore shipments have been lower YoY, and short-term supply continues to show a downward trend, providing support for ore prices. Coupled with the upcoming Two Sessions in early March, market expectations are gradually strengthening. It is expected that ore prices may continue to fluctuate upward in the short term.

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

Sep 27, 2026 05:37 (GMT+8)

[SMM Coal Flash] India Orders 112 Captive Coal Plants to Maximise Power Output Through Year-End

India has ordered 112 captive coal-fired power plants with capacity of at least 50 MW to operate at maximum capacity from October 1 through December 31, as the government prepares for an expected increase in electricity demand. The September 25 directive, issued by the federal power ministry under emergency provisions of the Electricity Act, covers captive plants primarily serving aluminium smelters, steel mills, cement plants and oil refineries, including facilities operated by Vedanta, Tata Steel, Hindalco, JSW Steel and others. Generators have also been instructed to sell surplus electricity through power exchanges and submit weekly reports covering generation, captive consumption, available capacity and coal stocks. The measure comes as nearly 40% of India’s coal-fired plants are operating with critically low fuel inventories, amid stronger power demand linked to hotter-than-usual weather.

Sep 27, 2026 05:37 (GMT+8)

Sep 27, 2026 05:28 (GMT+8)

[SMM Coal Flash] Bayan Resources Lifts Force Majeure as Three Subsidiaries Secure Revised 2026 RKAB

Indonesia’s PT Bayan Resources Tbk (BYAN) has lifted the force majeure previously declared over coal supply obligations after three subsidiaries — PT Tiwa Abadi (TA), PT Tanur Jaya (TJ) and PT Fajar Sakti Prima (FSP) — received full approval for their revised 2026 RKAB from the Ministry of Energy and Mineral Resources (ESDM) on September 23. The approvals allow the three companies to resume preparations for coal mining operations, while Bayan can restart coal transportation and sales. The force majeure had been declared on September 11 after delays in the revised RKAB approvals prevented the subsidiaries from legally continuing production and affected deliveries under their Coal Supply Agreements.

Sep 27, 2026 05:28 (GMT+8)

Sep 26, 2026 20:36 (GMT+8)

[JFE Steel expects 600,000-tonne output cut after typhoon damage]

Japan's JFE Steel expects its output to fall by about 600,000 tonnes after heavy rain and Typhoon No. 25 damaged facilities at its East Japan Works in the Chiba area. The company said the impact is likely to be prolonged because the typhoon caused additional damage after August downpours in Chiba. Several facilities were flooded in August; restoration has proceeded with safety first and operations resumed gradually, but blast furnaces have yet to return to normal. Typhoon No. 25 brought further flooding at some facilities there, with repairs under way. JFE said the estimated cut may change with restoration progress and it is still assessing impacts on output and earnings. Some deliveries have been delayed and the company is coordinating with customers to limit supply disruption.

Sep 26, 2026 20:36 (GMT+8)