Pre-Holiday Restocking Support Expected to Keep Iron Ore Prices Strong Next Week [SMM Brief Review]

Published: Apr 25, 2025 16:41

Save

Today, the iron ore futures remained stable in the morning but pulled back significantly in the afternoon, trading in the doldrums throughout the day. The most-traded contract I2509 finally closed at 709, with a daily decline of 1.87%. Traders showed a moderate willingness to sell, while steel mills had a good demand for restocking, with a strong willingness to restock at low levels. The market transaction atmosphere was moderate. In Shandong, the mainstream transaction prices of PB fines were around 760 yuan/mt, down 5-10 yuan/mt from yesterday. In Tangshan, the transaction prices of PB fines were around 765 yuan/mt at Caofeidian Port and around 775 yuan/mt at Jingtang Port, down 5 yuan/mt from yesterday. Supported by both fundamental and macro news this week, the price center of iron ore continued to move upward. Looking ahead to next week, some steel mills have restocking needs before the Labour Day holiday, and the overall demand for iron ore will continue to grow. Considering the tariff disturbances and the content of the Politburo meeting expected to be below market expectations, it will suppress the upside potential of iron ore. It is expected that ore prices may continue to rise next week, but the magnitude will be relatively small.

》Order to view SMM metal spot historical prices

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

22 hours ago

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.

22 hours ago

23 hours ago

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.

23 hours ago

[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...

23 hours ago