MMI Daily Iron Ore Index Report 03 December 2025
Currently, iron ore futures were sluggish, with the most traded contract I2601 closing at 799.5, down 0.19% from previous trading day. Merchants sell goods following market trends; Steel mills are purchased as needed. Average market trading sentiment. In Shandong, PB fine transaction prices ranged from 793-800 yuan, stable from yesterday’s level; in Hebei, PB fine transaction prices ranged from 805-815 yuan/mt. The supply of old PB fines on the spot market is limited, thus supporting strong price transactions, although the price of PB fines remains 60.8% stable compared to yesterday. According to SMM data for this week, the operating rate of blast furnaces in 242 steel mills was 85.91%, down 0.26 WoW percentage points. Average daily hot metal production at the sample steel mills was 2.3805 million mt, a decrease of 6,800 mt WoW. Based on existing plans, the decline is expected to widen next week, with overall iron ore demand continuing to weaken. Ore prices are under pressure. However, as this week’s meeting has not yet been held, year-end market expectations still remain. Ore prices found downside support and may continue to fluctuate within a certain range in the short term.
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Source: Metals Market Index (MMI)
