MMI Daily Iron Ore Index Report March 02 2026 in Chinese iron ore and steelmaking prices 02/03/2026 Today, DCE iron ore futures trended stronger today, with the most-traded I2605 contract closing at 754.5 RMB/ton, an increase of 0.87% from the previous trading session. In the physical market, spot prices rose by 4-8 RMB/tonne compared to the prior day. Trader sentiment for offering cargoes was subdued, and steel mills procured only on a need’s basis, with limited enquiries. Overall, the atmosphere for spot market transactions was lackluster. From a fundamental’s perspective, March marks the first full month of work and production resumption following the holiday period. A recovery in end-user demand is expected to drive a gradual increase in steel consumption. Consequently, hot metal output from steel mills is also anticipated to see some growth. It is noteworthy that in the first week post-holiday, mills’ restocking appetite was generally weak as they focused on consuming existing on-site inventories. However, entering March, these inventories have fallen to relatively low levels. Coupled with the rise in hot metal output, it is anticipated that overall iron ore demand will experience a more significant recovery. On the macroeconomic front, the “Two Sessions” political meetings are imminent in early March. As a crucial meeting seting the tone for the policy cycle, the market holds positive expectations for policy direction and monetary arrangements. This has fostered optimistic sentiment, which is broadly supportive for iron ore. In terms of external factors, the escalating geopolitical situation in the Middle East introduces significant uncertainty and risk. Although the region is not a core iron ore producer, a rise in crude oil prices is expected to translate directly into a freight premium for Brazilian and Australian iron ore delivered to China (CFR). This would raise import costs and provide support for prices. However, over the long term, this could impede steel exports and squeeze mill margins, which would consequently weigh on ore prices. Therefore, in the short term, iron ore prices are likely to follow a patiern of initial strength followed by a subsequent decline. Download PDF Source: Metals Market Index (MMI) 2026-03-02 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