Actual
672.00
Daily Change
-2.50 -0.37%
Monthly
-1.54%
Yearly
-12.90%
Q4 Forecast
665.62
Iron Ore CNY - Summary

Iron ore futures declined toward CNY 670 per ton, remaining close to four-year lows as increasing global supply continued to pressure the market. Industry data showed that shipments from major producers Australia and Brazil climbed 1.3% week-on-week to 27.9 million tons as of November 2, with miners boosting output to meet their quarterly and annual production targets. Meanwhile, demand in China, the world's largest iron ore consumer, remained subdued as steelmakers held back on restocking amid persistently weak profit margins, softer downstream steel demand and elevated inventory levels. Environmental restrictions imposed across several northern Chinese provinces also continued to constrain hot metal production. However, output is expected to rebound once these restrictions are lifted.

Iron Ore CNY - Stats

Iron Ore CNY fell to 672 CNY/T on November 3, 2026, down 0.37% from the previous day. Over the past month, Iron Ore CNY's price has fallen 1.54%, and is down 12.90% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Iron Ore CNY reached an all time high of 1920.50 in August of 2026. This page includes a chart with historical data for Iron Ore CNY. Iron Ore CNY - data, forecasts, historical chart - was last updated on November 3 of 2026.

Iron Ore CNY - Forecast

Iron Ore CNY fell to 672 CNY/T on November 3, 2026, down 0.37% from the previous day. Over the past month, Iron Ore CNY's price has fallen 1.54%, and is down 12.90% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Iron Ore CNY is expected to trade at 665.62 CNY/T by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 635.17 in 12 months time.



Price Day Month Year Date
Iron Ore CNY 672.00 -2.50 -0.37% -1.54% -12.90% Nov/03
Lithium 93,800.00 300 0.32% -24.93% 15.95% Nov/03
Platinum 1,432.00 -22.40 -1.54% -16.92% -5.90% Nov/03
HRC Steel 1,434.00 5.00 0.35% 8.64% 69.10% Nov/02
Iron Ore 91.25 0.54 0.60% -0.22% -13.79% Nov/02
Titanium 41.00 0 0% -5.75% -11.83% Nov/03


Iron Ore CNY
Iron ore is a rock or mineral from which metallic iron can be economically extracted. It is estimated that over 95% of mined iron ore is used to make steel through blast furnaces, which is essential for construction through steel rebars or manufacturing through sheets and coils. Major iron ore miners include Australia, China, Brazil, India, Russia, and South Africa.
Actual Previous Highest Lowest Dates Unit Frequency
672.00 674.50 1920.50 284.00 2013 - 2026 CNY/T daily

News Stream
Iron Ore Slips on Rising Shipments
Iron ore futures declined toward CNY 670 per ton, remaining close to four-year lows as increasing global supply continued to pressure the market. Industry data showed that shipments from major producers Australia and Brazil climbed 1.3% week-on-week to 27.9 million tons as of November 2, with miners boosting output to meet their quarterly and annual production targets. Meanwhile, demand in China, the world's largest iron ore consumer, remained subdued as steelmakers held back on restocking amid persistently weak profit margins, softer downstream steel demand and elevated inventory levels. Environmental restrictions imposed across several northern Chinese provinces also continued to constrain hot metal production. However, output is expected to rebound once these restrictions are lifted.
2026-11-03
Iron Ore Pressured by Weak Fundamentals
Iron ore futures held below CNY 680 per ton, hovering near four-year lows as rising port inventories, subdued steel mill profitability and sluggish demand continued to pressure prices. Industry data showed that iron ore stockpiles at major Chinese ports increased nearly 1% to 153.72 million tons in the latest week, while shipments from producers outside Australia and Brazil remained elevated. Meanwhile, profitability among Chinese steelmakers remained subdued at 11.26%, unchanged from the previous week. Environmental restrictions across several northern Chinese provinces also continued to weigh on hot metal production, although output is expected to recover once the curbs are lifted. Elsewhere, Brazilian mining giant Vale reported a 20% decline in third-quarter core profit, reflecting the impact of lower iron ore prices and persistently high fuel and freight expenses.
2026-10-30
Iron Ore Gains as Steel Mill Output Improves
Iron ore futures climbed above CNY 680 per ton, recovering from four-year lows amid signs of strengthening demand in top consumer China. Industry data showed that China’s average daily hot metal output, a key indicator of iron ore demand, increased by 3,700 tons to 2.36 million tons, marking a second consecutive weekly gain as blast furnaces resumed operations following maintenance. The operating rate of blast furnaces across surveyed mills also rose by 0.14 percentage points week-on-week to 87.3% as of October 28. Meanwhile, freight rates on both Australia-China and Brazil-China routes continued to rise, providing further support for iron ore prices. However, Chinese steel mills remain unprofitable, and domestic steel demand remains weak. Robust global iron ore production could also constrain further price gains.
2026-10-29