On November 10, 2026, raw iron and steel prices in the Chinese market experienced a decline. Futures prices on the Dalian Commodity Exchange (DCE) reached 684.0 yuan per ton, indicating a 0.51 percent decrease compared to the previous closing price. All eight main prices at the port of Qingdao also decreased, with the port indices falling by 3, 1, and 4 yuan respectively for 61 percent, 58 percent, and 65 percent.
Price and Market Analysis
The 61 percent maritime index reached $91.35 per ton, and the 65 percent index reached $107.60, while all 12 brands available in the market experienced price declines. Meanwhile, price fluctuations in different markets are observed differently, and daily changes cannot indicate a trend shift in the raw material composition. Pressure on the physical market balance continues to prevent a sustainable upward return.
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Inventory and Demand Situation
New statistics indicate a 33.30 percent increase in shipments entering China compared to last week, while global shipments have decreased by 7.89 percent. This discrepancy may be due to travel delays. Current inventories at ten ports have increased by 643,600 tons compared to the previous period, and the daily hot steel volume under review has decreased by 4,800 tons.
The increase in new shipments requires purchases by factories and absorption at ports, but there is still no basis to claim that current inventories have significantly increased. Overall, a cautious and range-bound outlook seems appropriate for the short term. The high-quality maritime index and low transportation costs can provide some support, while declining future and spot prices and limited demand have constrained price increases.
Improvements in orders and profit margins along with stable warehousing could provide further market support. Purchases based on need and slow absorption of shipments may put pressure on raw iron prices.
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