MMI Daily Iron Ore Index Report April 2 2026 in Chinese iron ore and steelmaking prices 02/04/2026 Iron ore futures showed a stronger trend in the morning session today but weakened in the afternoon. The main contract I2605 eventually closed at 805 yuan/ton, down 1.29% from the previous trading session. Spot prices fell by approximately 3–7 yuan compared to the previous day. Traders showed generally low enthusiasm for quoting, while steel mills made limited inquiries; as of now, spot market transactions are moderate. In terms of fundamental data, inventory at the 10 sampled ports this week showed significant structural divergence. Notably, mainstream medium-grade ores such as PB fines and blended fines saw substantial inventory increases, with PB fines surging by 1.24 million tons to nearly 9 million tons. In contrast, grades such as Carajas fines, Ultrafines, and high-silicon Brazilian fines experienced counter-cyclical inventory drawdowns. This divergence indicates that, under current pressures on steel mill profitability, the consumption side is accelerating its shift toward cost minimization. Steel mills are broadly adopting a “barbell” blending strategy that pairs high-grade and low-grade ores, which has significantly squeezed demand for mainstream medium-grade ores, further weighing on upward momentum for iron ore. On the macroeconomic front, amid persistently high overseas inflation and fading expectations of Fed rate cuts, tightening dollar liquidity has further dampened bullish sentiment in commodities. Combined with the pressure from high inv. Download PDF Source: Metals Market Index (MMI) 2026-04-02 hellenicshippingnews... window.___gcfg = {lang: 'en-US'}; (function(w, d, s) { function go(){ var js, fjs = d.getElementsByTagName(s)[0], load = function(url, id) { if (d.getElementById(id)) {return;} js = d.createElement(s); js.src = url; js.id = id; fjs.parentNode.insertBefore(js, fjs); }; load('//connect.facebook.net/en/all.js#xfbml=1', 'fbjssdk'); load('https://apis.google.com/js/plusone.js', 'gplus1js'); load('//platform.twitter.com/widgets.js', 'tweetjs'); } if (w.addEventListener) { w.addEventListener("load", go, false); } else if (w.attachEvent) { w.attachEvent("onload",go); } }(window, document, 'script')); tweet Share