Blast Furnace Maintenance Intensifies! Iron Ore Demand Continues to Decline! [SMM Iron Ore Daily Commentary]

Published: Jul 14, 2026 17:05

Save

Iron ore futures trended strongly today, with the DCE most-traded I2609 contract closing at 760.5 yuan/mt, up 1.81%. Port spot prices in Qingdao held up well, rising about 10-12 yuan/mt from the previous trading day. Trader activity increased, while steel mills' overall purchase willingness remained low, limited to essential restocking. As of now, spot transaction volumes were relatively thin.

From the blast furnace maintenance situation, iron ore demand is expected to decline further. According to SMM statistics, this week (July 11 to July 17), the impact on hot metal output from blast furnace maintenance in China was 1.3434 million mt, with the maintenance impact up 70,100 mt WoW. Next week (July 18 to July 24), the impact on hot metal output from blast furnace maintenance is estimated at 1.4109 million mt, up 67,500 mt WoW from this week. News-wise, the Port Hedland strike and the impending port cargo pick-up restrictions may tighten the supply side in the short term. Therefore, on balance, short-term ore prices may see their bottom lift, but overall they will maintain a rangebound fluctuation trend. [SMM Steel]

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 for 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

1 hour ago

[SMM HRC Arrivals] Arrival Ratio Increased Significantly This Period

1 hour ago

7.14 SMM Global Steel Daily Report

China Steel Export: [Flat products] Raw-material news lifts HRC export deals up 1 USD On July 14 China's HRC and other flat-product export prices rose 1 USD/tonne day on day, with HRC export deals at 486-492 USD/tonne FOB. Futures climbed quickly in the afternoon on raw-material headlines, but market feedback showed no clear pickup in actual enquiries or deals, with overseas markets still needing time to react. Some northern mills said heavy rainstorms kept them from issuing offers today, which may affect subsequent shipments. [Billet] Billet export FOB steady, Jiangyin at 456-459 USD On July 14 China's billet export FOB prices were largely steady, with Jiangyin port quoted at 456-459 USD/tonne. Market feedback indicated shipment slots generally booked into September, with a few orders pushed to October. China's price advantage versus Southeast Asia, India and Iran has narrowed, making high-priced Chinese export cargoes hard to sell, while mills showed limited appetite to take new orders, saying prices were unattractive. [Rebar] Rebar export offers steady, afternoon enquiries improve On July 14 China's rebar export offers held steady, with workable FOB prices at 480-485 USD/tonne. Market participants said futures rose in the afternoon, enquiries improved somewhat, and some traders concluded small volumes.

1 hour ago

[SMM Zhangjiagang Hot-Rolled Coil Inventory] Inventory Narrowly Accumulated This Week

This week, the hot-rolled coil inventory in Zhangjiagang was 280,000 mt, up 1,000 mt WoW, an increase of 0.36%; up 24.44% YoY.

1 hour ago