Port Pick-Up Volume Rose, Iron Ore Futures Gained, Spot Prices Fell [SMM Imported Ore Daily Brief]

Published: Apr 17, 2026 18:15

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DCE iron ore futures trended stronger today. The most-traded contract I2609 ultimately closed at 778.5 yuan/mt, up 0.39% from the previous trading session. Spot prices fell 3-5 yuan/mt from the previous trading day. Traders were active in quoting, while steel mills purchased mainly based on immediate needs with few inquiries; overall spot cargo transactions were mediocre.
Fundamentals side, the latest SMM statistics showed that total iron ore inventory at 35 main ports nationwide stood at 152.58 million mt, down 610,000 mt WoW, with overall inventory seeing slight destocking. Meanwhile, daily average port pick-up volume rebounded to 3.13 million mt, an increase of 60,000 mt WoW. Iron ore port inventory showed a slight destocking trend this week, reflecting solid overall iron ore demand. As blast furnace operating rates remained at elevated levels, port pick-up volume is expected to continue growing in the short term, providing relatively firm support for iron ore prices on the downside.
Looking ahead to next week, the release of port spot cargo inventory may increase iron ore supply in the short term and slightly weigh on upward momentum for ore prices. Therefore, on a comprehensive basis, iron ore prices are likely to move sideways within a range next week.

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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