MMi Daily Iron Ore Report (november 3)

Published: Nov 03, 2026 18:14 (GMT+8)

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Iron ore futures were range-bound with a weaker bias today. The DCE most-traded I2701 contract closed at 671 yuan/mt, down 0.74% from the previous trading day. Spot prices at Qingdao port fell by about 2-5 yuan/mt on average. Trader activity was moderate, steel mills bought on an as-needed basis and spot trading was average.

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