Cautious Market Sentiment; Iron Ore Prices Fluctuated Rangebound [SMM Brief Review]

Published: Mar 19, 2026 17:46

Save

Dalian iron ore futures remained in the doldrums today. The most-traded contract, I2605, finally closed at 807.5 yuan/mt, down 0.55% from the previous trading day. Spot prices saw limited transactions, falling by about 2-5 yuan from the previous trading day. Traders offered quotes in line with the market, while steel mills remained cautious and on the sidelines, with some purchasing as needed.
According to the SMM survey, as of March 19, total inventory across the 10 ports tracked by SMM stood at 119.62 million mt, up 630,000 mt MoM. Inventory trends diverged among mainstream products, with notable destocking in IOCJ fines and Newman fines. Inventory of Jimblebar fines also declined slightly. In addition, inventory of PB fines and Mac fines increased slightly. In the short term, improved fundamental demand for iron ore provided support to futures prices. However, close attention should be paid to tomorrow's long-term contract negotiations and the impact of the Middle East conflict, both of which could have a significant effect on iron ore 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

48 mins ago

[SMM Iron & Steel] US Steel Output Hits Record Utilization Amid Domestic Momentum

The American Iron and Steel Institute (AISI) reported that for the week ending May 2, 2026, domestic raw steel production reached 1,856,000 net tons, with a capability utilization rate of 80.4%. This represents a 9.6% increase compared to the same week in 2025. Adjusted year-to-date production through early May reached 31,405,000 net tons, reflecting robust industrial demand in the North American market.

48 mins ago

49 mins ago

[SMM Iron & Steel] ArcelorMittal Revises Decarbonization Strategy: No New EAFs This Decade

ArcelorMittal has adjusted its long-term strategy, stating that it will not initiate any new electric arc furnace (EAF) investments until its 2 Mt/y reference project in Dunkirk, France, is nearing completion. The group's 2025 Sustainability Report indicates that due to high energy prices in Europe (well above $30/MWh) and slow progress in green hydrogen infrastructure, the company will adopt a "flexible and adaptable" strategy, prioritizing financial discipline. The Dunkirk EAF project, costing €1.3 billion, has a planned capacity of 2 Mt/y and is expected to begin production in 2029, reaching full capacity in 2030-2031. The new EAF will replace two existing blast furnaces with a combined capacity of 1.8 Mt/y.

49 mins ago

[SMM Iron & Steel] Kazakhstan Extends Ban on Ferrous Scrap Exports

Kazakhstan has officially extended its ban on the export of ferrous scrap by rail and road for another six months. The measure is intended to ensure a stable supply of raw materials for domestic steel producers as they ramp up production to meet national infrastructure goals. Regional billet prices rose by $10–15 per ton following the announcement.

49 mins ago