MMI Daily Iron Ore Index Report November 11 2026

Iron ore combined price weakness with selective support today. DCE most-traded closed at 683.5 yuan/mt, down 0.07% from the previous close, and all eight Qingdao spot products fell 1 yuan. The 61% port index rose 1 yuan while the 58% and 65% held steady. Seaborne 61% and 65% indices eased to USD 91.30 and 107.10/dmt, and all 12 brands declined, highlighting differences across samples and quotation bases. Demand showed a modest improvement: surveyed daily hot metal rose 5,600 mt WoW on Nov 11 and the blast furnace operating rate increased 0.17 percentage point, offering some support to ore consumption. However, latest available ten-port stocks were still up 643,600 mt from the previous period and earlier arrivals rose 33.30%. Higher hot metal does not establish that stocks have already declined; port outbound volume and sustained purchases remain important. A cautious, range-bound near-term view remains appropriate. Higher hot metal and stable parts of the port index complex may ease pressure, while softer seaborne prices, existing stocks and some higher transport costsconstrain a rebound. Better mill margins and orders accompanied by sustained purchases could strengthen support; slow absorption of arrivals could leave ore prices fluctuating with trading and resource composition.

This story was originally published by Hellenic Shipping News. Read the full story at Hellenic Shipping News →