Iron Ore Demand Peak, Closing Up 0.99% [SMM Imported Ore Daily Brief]

Published: Apr 15, 2026 17:33

Save

DCE iron ore futures trended stronger today. The most-traded contract I2609 ultimately closed at 764 yuan/mt, up 0.99% from the previous trading session. Spot prices rose 2-5 yuan/mt from the previous trading day. Traders quoted actively, while steel mills mostly remained on the sidelines purchasing on demand; overall spot transactions were moderate.

Fundamentals, the SMM survey showed that the blast furnace utilization rate at 242 sample steel mills was approximately 90.21% this week, up 0.91% WoW. Daily average pig iron production reached 2.4441 million mt, up 5,100 mt WoW. Overall rigid demand for iron ore remained solid and was expected to edge up next week.

News, market rumors suggested that restrictions on certain previously restricted categories had been partially lifted, and iron ore arriving subsequently could be freely picked up from ports, while the previously accumulated high inventory remained restricted. Overall iron ore supply was expected to edge up, but given the current high demand, the incremental supply was expected to be well absorbed, posing no bearish factors. Therefore, iron ore prices were likely to show strong downside support in the short term, and fluctuate upward.

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

15 mins ago

[SMM Steel] POSCO calls for global coordination to advance steel decarbonization

[SMM Steel] POSCO emphasized the need for stronger international cooperation to accelerate steel decarbonization at the World Steel Association meeting. The company highlighted rising energy costs and weak demand as key challenges, while stressing fair market valuation for low-emission steel. POSCO also engaged with global partners on carbon reduction technologies, investment, and supply chain stability, as it continues to push its decarbonization roadmap.

15 mins ago

[SMM Steel] US maintains AD/CVD duties on NOES from six countries

[SMM Steel] United States has finalized sunset reviews on non-oriented electrical steel (NOES), deciding to maintain AD/CVD duties on imports from Sweden, Germany, China, South Korea, Taiwan, and Japan. Dumping margins reach up to 407.52% for China and 204.79% for Japan, while subsidy rates include 158.88% for China. The decision reflects continued risk of dumping and injury to the US industry.

15 mins ago

16 mins ago

[SMM Steel] UNESID welcomes new EU steel trade mechanism

[SMM Steel] UNESID welcomed the new European Union steel trade mechanism set to take effect on July 1, 2026, replacing current safeguards. The system reduces tariff-free quotas by ~47% to 18.3 million mt/year and raises out-of-quota tariffs to 50%, while allowing limited quota carry-over in the first year.

16 mins ago