On November 11, 2026, iron ore prices in China reached 683.5 yuan per ton, indicating a decrease of 0.07 percent compared to the previous closing price. Meanwhile, prices for various products in the Kimcho cash markets have generally decreased, specifically, all eight products in this market saw a price drop of 1 yuan.
Price and Demand Analysis
On this day, the 61% index price at the port experienced a 1 yuan increase, while the prices for 58% and 65% remained stable. Maritime indices for 61% and 65% decreased to 91.30 and 107.10 dollars per ton, respectively. In the meantime, all 12 brands also faced price reductions, indicating existing differences in samples and pricing bases.
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Demand for iron ore is improving. According to recent statistics, the daily volume of the hot metal has increased by 5,600 tons compared to the previous week, and the operating rate of blast furnaces has also risen by 0.17 percent, which may help consume iron ore. However, available inventories at ten major ports are still 643,600 tons higher than the previous period, and new arrivals have increased by 33.30 percent.
Market Challenges and Outlook
The increase in hot metal prices does not mean that inventories have decreased. The volume of output from the port and ongoing purchases remain highly significant. A cautious outlook and range may be appropriate for the short term. The rise in hot metal prices and stability in various port index sectors may alleviate pressure, while soft maritime prices, current inventories, and some higher transportation costs limit recovery.
Better margins at factories and orders along with ongoing purchases can provide further support. On the other hand, slow incoming flows may cause fluctuations in iron ore prices related to transactions and resource composition.
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