Spot market trading activity declines, iron ore prices fluctuate rangebound [SMM Commentary]

Published: May 9, 2025 16:51

Save

Today, DCE iron ore futures fluctuated rangebound, with the most-traded contract I2509 closing at 696, down 0.57% for the day. Some traders showed moderate enthusiasm for selling. As the weekend approached, the purchase willingness of steel mills weakened somewhat, with some steel mills conducting tenders as needed. The market trading atmosphere was moderate. The mainstream transaction prices of PB fines in the Shandong region were around 753-757 yuan/mt, up 2 yuan/mt from the lows of yesterday's prices. The transaction prices of PB fines in the Tangshan region were around 760-765 yuan/mt, holding steady compared to yesterday's prices.

As of May 9, SMM data showed that the total inventory at 35 ports was 139.66 million mt, a decrease of 280,000 mt from before the holiday and a decrease of 350,000 mt WoW. The daily average port pick-up volume of imported ore was 3.019 million mt, a decrease of 129,000 mt from before the holiday. The slowdown in the pace of procurement after the holiday led to a downward trend in port pick-up volume. The decline in port inventory significantly narrowed. Looking ahead to next week, iron ore demand is expected to weaken, which will continue to suppress iron ore prices.

》Subscribe 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

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.

22 hours ago

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