Port Arrivals Expected to Increase; Iron Ore May Face Bearish Risks [SMM Iron Ore Daily Review]

Published: Aug 14, 2026 17:23

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Iron ore futures traded firmer today. The most-traded DCE I2701 contract closed at 710.5 yuan/mt, up 0.42% from the previous trading session. Spot prices at Qingdao Port rose 5-9 yuan/mt from the previous trading day. Traders were active in making offers, steel mills made limited inquiries, and overall spot volume has so far been average.
According to the latest SMM statistics, total iron ore inventory at China's 35 major ports was 146.78 million mt, up 390,000 mt MoM. Overall inventory saw a slight buildup, and daily average port pick-up volume edged down 7,000 mt to 3.088 million mt. The data show that although China's iron ore port arrivals and port pick-up volumes both declined during this period, arrival growth is expected to outpace the recovery pace in port pick-up. Meanwhile, pig iron production is fluctuating amid blast furnace maintenance. Given strong supply and weak demand, iron ore inventory may tend to accumulate. Therefore, with a news vacuum and most funds in a wait-and-see mode, iron ore prices may tend to weaken. [SMM Steel]

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