Sentiment Release, Iron Ore Prices Slightly Rebound [SMM Brief Review]

Published: Nov 6, 2025 17:21

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Today, iron ore futures stabilized and strengthened, holding up well throughout the day. The most-traded contract I2601 finally closed at 777.5 yuan, up 0.65% from the previous working day. Market trading activity was moderate, with most traders selling at market prices. Steel mills purchased as needed, and inquiries were average. Spot cargoes at ports rose by 5-8 yuan/mt compared to the previous working day. In Shandong, PB fines transaction prices were 780-785 yuan, up 3-5 yuan from yesterday; in Hebei, PB fines transaction prices were 790-798 yuan/mt, up 0-8 yuan/mt from yesterday.
Industrial data today showed a significant decline in apparent demand, indicating that end-use demand began to weaken. However, current steel mill maintenance was relatively limited, and hot metal production remained stable, providing some support for ore prices. Recent macro sentiment was released, and today's sentiment improved slightly, driving a slight increase in futures prices. Considering that overall iron ore demand is expected to remain high in the later period, ore prices are likely to have relatively small downward room and may mainly move sideways in the short term.

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