MMI Daily Iron Ore Index Report January 29 2026 in Chinese iron ore and steelmaking prices 29/01/2026 decline of 0.70% from the previous trading day. In the physical market, spot prices fell by 3–5 RMB compared to the prior Today, the DCE iron ore futures market trended upwards amidst volatility. The benchmark contract, I2605, closed at 798.5 RMB/tonne, recording a 1.78% increase from the previous trading day. In the physical market, spot prices rose by 5–10 RMB compared to the prior session. Traders displayed only moderate enthusiasm in offering quotes, while steel mills maintained a cautious stance, procuring strictly on an as-needed basis. Consequently, the overall trading atmosphere remained thin. According to the latest SMM data, total iron ore inventories across the 10 major ports currently stand at 118.07 million tonnes, a period-on-period increase of 1.94 million tonnes. A breakdown of the inventory structure reveals a significant accumulation in fines stocks, whereas concentrates, lump ore, and pellets exhibited a slight destocking trend. Notably, high-grade varieties—typified by Carajas fines (IOCJ)—benefited from robust demand support, resulting in a destocking rate that significantly outpaced other varieties. As steel mills previously under maintenance successively enter their resumption cycles, there is a strong expectation for a rebound in daily average hot metal output. This recovery in rigid demand is expected to provide solid floor support for iron ore prices. Weighing the structural pressure from port inventories against the support provided by the resumption of demand, iron ore prices are projected to maintain a rangebound, volatile trajectory in the near term. Download PDF Source: Metals Market Index (MMI) 2026-01-29 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