The four-time World Champion qualified in P3, just less than two tenths behind pole-sitter Kimi Raikkonen.
Hamilton admitted after the session that the Scuderia were just too quick for Mercedes on Saturday afternoon.
“Congratulations to Ferrari, they did a solid job today,” Hamilton said.
“We gave it everything we could and it is obviously incredibly close between us but they have had that upper hand all weekend.
“We still gave it everything we can, we gave it everything we could today and we will give more tomorrow.”
The Brit also said that the whole team would be working overnight to try and make changes to get them in front of Ferrari on race day.
“Everyone in the team is working as hard as they can to make the difference,” he added.
“It is incredibly close, as you can see, which is great for the sport.
“It is great to see so many fans here, regardless if they are all the Ferrari fans, but it is still great.”