MMI Daily Iron Ore Index Report — August 13, 2026: DCE I2609 Settles at RMB 705/Tonne
Key Takeaways
- •The DCE front-month iron ore contract I2609 settled at RMB 705 per tonne, representing a 0.21% decline from the previous trading day.
- •Total portside iron ore inventories at ten major Chinese ports stood at 106.95 million tonnes, increasing by 360,000 tonnes on a weekly basis.
- •Fine concentrate prices rebounded after a recent pullback, whereas fines prices held steady under pressure from elevated stock levels and subdued downstream demand.
- •Most market participants adopted a wait-and-see stance due to lingering uncertainty around downstream steel demand tied to construction and infrastructure activity.
- •Iron ore prices are projected to remain range-bound in the near term, with both upside and downside potential seen as limited.
Chinese Iron Ore and Steelmaking Prices — August 13, 2026
Iron ore futures on the Dalian Commodity Exchange (DCE) edged lower in the latest trading session. The front-month contract I2609 settled at RMB 705 per tonne, representing a decline of 0.21% from the previous trading day. The DCE iron ore contract is a closely tracked benchmark for ferrous market sentiment, as China accounts for the majority of global seaborne iron ore imports and is the world's largest steel producer.
Spot prices at Qingdao Port, one of China's principal iron ore import hubs, were broadly unchanged compared with the prior session. Qingdao Port spot pricing serves as a widely referenced indicator for physical iron ore delivered into China. Traders largely followed the prevailing market tone, while steel mills continued to purchase on an as-needed basis. Overall spot transaction volumes remained modest.
Port Inventory Data
According to SMM's latest ten-port inventory survey, total portside iron ore stocks stood at 106.95 million tonnes, edging up by 360,000 tonnes on a week-on-week basis. Port stockpiles are a key supply-side metric that traders and analysts monitor for signals about the balance between import arrivals and downstream consumption rates.
The inventory breakdown showed divergent trends across product categories:
- Fine concentrate and lump ore continued to draw down.
- Fines and pellets recorded a slight build.
Fine concentrate prices remained firm, having rebounded following the pullback observed in recent weeks. Fines prices, by contrast, held steady, pressured by elevated inventory levels and relatively stable — albeit subdued — demand from downstream steelmakers.
Market Sentiment and Outlook
On the macro sentiment front, most market participants remained cautious amid lingering uncertainty surrounding downstream newsflow, and were inclined to adopt a wait-and-see stance. Downstream steel demand in China is influenced by construction activity and infrastructure spending, which are in turn tied to broader economic policy signals. From a fundamentals perspective, iron ore prices are expected to trade within a narrow range in the near term, with limited upside and downside potential alike.
Source: Metals Market Index (MMI)
