MMI Daily Iron Ore Index Report November 9 2026

Iron ore prices combined stability with weakness today. DCE most-traded closed unchanged at 687.5 yuan/mt, and all eight major Qingdao port product quotations were steady. The 61% and 65% port indices each fell 1 yuan while the 58% rose 1 yuan. Seaborne 61% and 65% indices declined to USD 91.50 and 107.60/dmt, and all 12 brands eased against the previous report. Different moves in composite indices and product quotations highlight resource composition and pricing bases; no single market alone establishes broad strengthening or weakening. Incoming supply and physical consumption remain central. Chinese arrivals rose 33.30% WoW in the week to Nov 6, while global shipments fell 7.89%; voyage lags and reporting periods can produce divergence. Latest ten-port stocks rose 643,600 mt from the previous period, while surveyed daily hot metal fell 4,800 mt. Higher arrivals may increase subsequent absorption pressure, but do not establish that current inventories have already risen further. A cautious, range-bound near-term view remains appropriate. Steady futures and major port quotations, together with relative low-grade resilience, offer some support. Lower seaborne prices, existing stock accumulation and slightly weaker hot metal limit upside momentum. Better mill orders and margins accompanied by sustained purchasing could strengthen support; difficulty absorbing arrivals and predominantly needs-based restocking could leave ore prices fluctuating under pressure.

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