Iron ore prices in China experienced a mix of stability and weakness on November 9, 2026. The last closing price in the DCE market for actively traded contracts remained unchanged at 687.5 yuan per ton. Additionally, all eight main product prices at the Qingdao port also remained stable. However, the port indices for 61% and 65% each decreased by 1 yuan, while the 58% index recorded a 1 yuan increase.
Price Changes and Global Supply
The maritime iron ore indices for 61% and 65% decreased to $91.50 and $107.60 per ton, respectively, and all 12 available brands experienced a price drop compared to the previous report. These changes in composite indices and product prices reflect the combination of resources and pricing bases, and no single market can create a broad strengthening or weakening on its own. Incoming supply and physical consumption remain the focus.
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Imports and Warehouse Stocks
China's imports in the week ending November 6 increased by 33.30% compared to the previous week, while global shipping faced a 7.89% decline. Delays in travels and reporting periods can lead to discrepancies in statistics. The stocks at 10 ports increased by 643,600 tons compared to the previous period, while the daily molten iron volume under review decreased by 4,800 tons. The increase in inflows may raise subsequent absorption pressure, but this does not mean that current inventories have significantly increased.
A cautious and limited outlook for the near future still seems appropriate. Stability in future prices and main port prices, along with relative resistance in lower quality, provides some support. Lower maritime prices, accumulation of existing inventories, and slightly weak molten iron prevent upward movement. Better orders from factories and profit margins along with steady purchasing can strengthen support. However, difficulties in absorbing inflows and primarily the need for restocking may keep iron ore prices under pressure and volatile.
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