MMI Daily Iron Ore Index Report January 23 2026 in Chinese iron ore and steelmaking prices 23/01/2026 Today, the iron ore market showed a volatile but firm trend, with the main contract I2605 closing at 795 yuan/ton, up 1.21% from the previous trading day. Spot prices increased by approximately 5–7 yuan/ton compared to the previous day. This week, pre-holiday restocking demand has gradually started to emerge. Traders’ enthusiasm for offering prices remains moderate, while steel mills have shown active procurement and inquiry activity. Overall, spot market transactions have improved slightly. In terms of fundamental data, according to this week’s SMM survey, as of January 23, iron ore inventories across 35 ports nationwide reached 150.41 million tons, an increase of 1.65 million tons from the previous week. The average daily port shipments for the week were 2.412 million tons, down slightly by 34,000 tons compared to the previous week. Despite the ongoing accumulation of port inventories, indicating persistent supply-side pressure, demand-side support has begun to emerge as steel mills engage in pre-holiday restocking ahead of the Spring Festival, providing a certain level of bottom-line support for iron ore prices. Additionally, market sentiment was lifted today by the strong rally in the coking coal and coke sectors, which has contributed to a slight improvement in overall trading sentiment across the black industry chain. Considering both supply-demand dynamics and market sentiment, iron ore prices are expected to remain in a volatile but firm pattern in the short term. Download PDF Source: Metals Market Index (MMI) 2026-01-23 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