No Positive Macro News, Iron Ore Prices Weakened First Then Strengthened [SMM Imported Ore Daily Brief]

Published: May 14, 2026 16:40

Save

Iron ore futures showed a weak-then-strong pattern today. The most-traded contract I2609 ultimately closed at 817 yuan/mt, basically flat compared to the previous trading day. Port spot prices were down 2-5 yuan/mt from the previous day. Traders offered prices in line with the market; steel mills purchased as needed; overall spot trading sentiment was lukewarm.
SMM ten-port data by product category showed that total port inventory fell 1.7 million mt MoM from pre-holiday levels, with fines, concentrates, and lump ore all destocking. By major product, inventories of Jimblebar fines, blended fines, Mac fines, and super special fines declined notably, while inventories of IOCJ fines, PB fines, PB lump, and Newman fines increased somewhat, posing certain pressure on future prices. On the macro front, market attention today focused on Trump's visit to China. As of now, no positive news has emerged, and attention should be paid to the impact of subsequent news on futures. Ore prices are expected to maintain a fluctuating trend at highs in the short term.

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.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

55 mins ago

MMi Daily Iron Ore Report (May 14)

Today, the DCE Iron ore futures showed a weak-then-strong pattern today. The most-traded contract I2609 ultimately closed at 817 yuan/mt, basically flat compared to the previous trading day. Port spot prices were down 2-5 yuan/mt from the previous day. Traders offered prices in line with the market; steel mills purchased as needed; overall spot trading sentiment was lukewarm.

55 mins ago

1 hour ago

Silicone Overall Product Price Center Shifted Slightly Upward, Weekly Market Trading Atmosphere Was Subdued [SMM Silicone Weekly Review]

[SMM Silicone Weekly Review: Silicone Overall Product Price Center Shifted Slightly Upward, Weekly Market Trading Atmosphere Was Subdued] This week, the transaction center of China's silicone DMC market shifted slightly upward, with the mainstream transaction range at 14,800-15,000 yuan/mt, up 50 yuan/mt WoW. Regional quotations: monomer enterprises in Shandong quoted 14,800 yuan/mt, up 100 yuan/mt WoW; monomer enterprises in north-west China lowered their online store prices by 800 yuan/mt to 15,100 yuan/mt; mainstream quotations in other regions were mainly at 15,000-15,200 yuan/mt. Currently, mid- and downstream enterprises were primarily drawing down inventory, so overall market transactions this week were limited to small volumes of just-in-time procurement.

1 hour ago

[SMM HRC Daily Trading] Spot Cargo Moved Sideways

[SMM HRC Daily Trading] On May 14, the combined daily HRC trading volume of SMM's sample enterprises across four cities (Shanghai, Lecong, Tianjin, Ningbo) totaled 14,510 mt, down 10 mt or 0.1% DoD, down 11.36% YoY (solar calendar), and up 32.15% YoY (lunar calendar).

1 hour ago