Port Arrivals Surged by 4.41 Million, Iron Ore Closed Flat [SMM Imported Ore Daily Brief]

Published: Apr 27, 2026 17:25

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Today, DCE iron ore futures showed an N-shaped trend, with the most-traded contract I2609 closing at 786 yuan/mt, unchanged from the previous closing price. Spot prices remained stable compared to the previous day as of now. Traders were active in quoting, while steel mills made fewer inquiries; overall spot cargo trading was sluggish.

Last week, according to SMM statistics, global iron ore shipments reached 32.27 million mt, up only 2% from the previous period; meanwhile, China's iron ore port arrivals reached 24.31 million mt, surging 4.11 million mt (20%) WoW. Shipments from Brazil and Australia showed clear signs of recovery from the impact of weather factors in the previous period. Therefore, in the short term, there is some room for growth on the supply side, which, combined with inventory at a relatively high level, exerts downward pressure on iron ore prices. With expectations that hot metal production will stay high, iron ore prices are expected to fluctuate at highs in the short term.

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