MMI Daily Iron Ore Index Report January 19 2026 in Chinese iron ore and steelmaking prices 19/01/2026 Today, the iron ore futures market experienced a significant decline, with the main contract I2605 closing at 794 yuan per ton, down 2.58% from the previous trading day. Spot prices also fell by 10–15 yuan per ton compared to the previous trading day. Market activity was subdued, with traders showing limited enthusiasm in quoting prices, and steel mills conducting fewer inquiries, mostly making purchases for routine inventory replenishment. Overall, market sentiment remained tepid. The price drop was primarily driven by market misinformation regarding an accident at Baogang, which reportedly led to a sharp decline in pig iron production and triggered panic. It is speculated that the accident may have affected two blast furnaces, resulting in a daily reduction of approximately 16,000 tons of hot metal production. However, operations at other steel mills in the region remain unaffected by the incident. The pessimistic market sentiment contributed significantly to the noticeable decline in iron ore prices. Nevertheless, as steel mills have initiated pre-holiday inventory restocking, spot demand continues to provide some support to iron ore prices. Overall, the fundamentals of iron ore remain solid, suggesting the possibility of an upward price rebound in the future. Download PDF Source: Metals Market Index (MMI) 2026-01-19 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