MMI Daily Iron Ore Index Report February 03 2026 in Chinese iron ore and steelmaking prices 03/02/2026 Today, the DCE iron ore market extended its volatile and weak trend. The benchmark contract, I2605, closed at 777.5 RMB/tonne, representing a decline of 1.14% from the previous trading day. In the physical market, spot prices fell by a cumulative 2–5 RMB/tonne. Traders predominantly sold at prevailing market rates, while steel mills maintained a ‘wait-and-see’ stance. Inquiry activity remained low, resulting in a generally subdued trading atmosphere. According to the latest SMM statistics, as of 30 January, total iron ore inventory across 35 major ports nationwide has climbed to a high of 153 million tonnes. This represents a significant week-on-week accumulation of 2.77 million tonnes, highlighting continued pressure from visible inventory build-up. Meanwhile, daily average port discharge volumes were recorded at 2.43 million tonnes; although this marks a slight week-on-week recovery of 18,000 tonnes, the overall increase remains marginal. Looking ahead, supply-side pressure shows no signs of abating. Due to the lagged transmission of high-volume overseas shipments dispatched earlier, inbound arrivals are expected to maintain a growth trajectory. Under the combined influence of sustained inbound resource realization and marginally weakening demand, the trend of port inventory accumulation is unlikely to reverse. The market’s supply-demand structure is set to face further compression, and iron ore prices are projected to continue their volatile and weak operation in the short term Download PDF Source: Metals Market Index (MMI) 2026-02-03 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