Inventory Increased by 1.21 Million mt Again, Iron Ore Prices in the Doldrums [SMM Brief Comment]

Published: Dec 5, 2025 17:52

Save

Today, iron ore futures traded in the doldrums. The most-traded contract rolled over to I2605 and finally closed at 769, down 0.77% from the previous trading day. Traders' willingness to sell was moderate. As the weekend approached, steel mills' purchasing enthusiasm declined. The market transaction atmosphere was sluggish. In Shandong, the transaction price for PB fines was 780-787 yuan/mt, down 5-10 yuan/mt from yesterday. In Hebei, the transaction price for PB fines was 790-800 yuan/mt, down 5-10 yuan/mt from yesterday.

As of December 5, according to SMM statistics, the total iron ore inventory across 35 ports nationwide was 139.82 million mt, an increase of 1.21 million mt WoW. The average daily port pick-up volume this week was 2.686 million mt, down 69,000 mt WoW. Recently, annual maintenance at steel mill blast furnaces entered a concentrated period, leading to a significant decline in iron ore demand, which dragged prices down under pressure. Considering that an important meeting will be held next week, market sentiment is positive, and the downside room is expected to be limited.

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

Feb 6, 2026 18:30

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.

Feb 6, 2026 18:30

Feb 6, 2026 18:09

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.

Feb 6, 2026 18:09

Feb 6, 2026 17:41

[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...

Feb 6, 2026 17:41