Blast Furnace Maintenance Increase in China as Iron Ore demand are expected weaken [SMM Iron Ore Daily Briefing]

Published: Jul 14, 2026 17:15

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[SMM Iron Ore Daily Briefing]
Today, iron ore futures trended stronger, with the most-traded DCE contract I2609 closing at 760.5 yuan/mt, up 1.81%. Spot prices at Qingdao Port held up well, rising approximately 10-12 yuan/mt from the previous trading day. Trader activity increased, but steel mills’ overall purchase willingness remained low, limited to essential restocking. Spot transaction volumes were modest as of now.

From the perspective of steel mill maintenance, iron ore demand is expected to decline further. According to SMM data, this week (from July 11 to July 17), the hot metal impact from blast furnace maintenance in China was 1.3434 million mt, with the impact from maintenance up 70,100 mt WoW. Next week (from July 18 to July 24), the hot metal impact from blast furnace maintenance is expected to be 1.4109 million mt, a projected increase of 67,500 mt WoW. In terms of news, the strike at Port Hedland and the port cargo pick-up restrictions about to be implemented may tighten supply in the short term. Overall, Iron ore prices may see a bottom lift in the near term but are expected to continue fluctuating within a range.[SMM Iron & Steel]

Note: The above information is compiled based on market communication and information from public channels, and does not constitute valid investment advice.

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.

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