MMI Daily Iron Ore Index Report June 3 2026 in Chinese iron ore and steelmaking prices 03/06/2026 The DCE iron ore futures traded weak today. The most-traded contract I2609 closed at 780 yuan/mt, down 0.57% from the previous trading session. Port spot prices fell 3-5 yuan/mt from the previous day. Traders showed moderate enthusiasm in offering prices; steel mill purchases were mostly driven by rigid demand; overall spot market transactions remained thin as of now. Looking ahead, iron ore fundamentals strengthened slightly. During this period, the daily average pig iron production of SMM sample steel mills was 2.4302 million mt, up 2,100 mt WoW. Next week, as large-volume blast furnaces that previously underwent maintenance resume production successively, hot metal production and rigid demand for iron ore are expected to rebound, providing downside support for ore prices. On the macro front, renewed US-Iran tensions and escalating geopolitical risks in the Middle East boosted risk-averse sentiment in the market and triggered sell-offs of risk assets, capping the upside room for iron ore as an industrial product. Therefore, overall, with fundamental support on the downside and macro pressure on the upside, iron ore is expected to trade in a range-bound pattern in the near term. Download PDF Source: Metals Market Index (MMI) 2026-06-03 hellenicshippingnews... tweet Share