Iron Ore Weighed Down by Increasing Supply

2026-04-10 06:04 By Jam Kaimo Samonte 1 min. read

Iron ore futures remained below CNY 760 per ton, hovering near five-week lows as expanding global supply and high port inventories in China continued to pressure prices.

Industry data showed shipments of the key steelmaking raw material from major exporters Australia and Brazil surged more than 30% week-on-week to 24.48 million tons as of April 7, following an easing of weather-related disruptions.

Analysts also expect Chinese demand for iron ore to soften this year as steel consumption slows, pointing to the country’s prolonged property sector downturn.

Narrowing steel margins in China have further dampened demand for the raw material.

Meanwhile, data indicated that average daily hot metal output, a key proxy for iron ore consumption, rose for a fourth consecutive week by 0.8% to 2.39 million tons as of April 9, though the pace of growth eased from a 2.7% increase in the prior week.



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Iron Ore Weighed Down by Increasing Supply
Iron ore futures remained below CNY 760 per ton, hovering near five-week lows as expanding global supply and high port inventories in China continued to pressure prices. Industry data showed shipments of the key steelmaking raw material from major exporters Australia and Brazil surged more than 30% week-on-week to 24.48 million tons as of April 7, following an easing of weather-related disruptions. Analysts also expect Chinese demand for iron ore to soften this year as steel consumption slows, pointing to the country’s prolonged property sector downturn. Narrowing steel margins in China have further dampened demand for the raw material. Meanwhile, data indicated that average daily hot metal output, a key proxy for iron ore consumption, rose for a fourth consecutive week by 0.8% to 2.39 million tons as of April 9, though the pace of growth eased from a 2.7% increase in the prior week.
2026-04-10
Iron Ore Drops to 1-Month Low
Iron ore futures fell below CNY 760 per ton, hitting a one-month low as shipments from major suppliers surged, while a two-week ceasefire in the Middle East eased supply disruption concerns. Industry data showed that shipments of the key steelmaking ingredient from major producers Australia and Brazil jumped by over 30% week-on-week to 24.48 million tons as of April 7, as weather-related disruptions subsided. However, analysts noted that Chinese iron ore demand is likely to weaken this year as steel consumption slows, citing a prolonged property sector crisis in China. Increased anti-dumping measures and trade barriers also threaten China’s ability to sustain its steel exports. Meanwhile, the US, Iran and Israel agreed to a two-week ceasefire to allow negotiations for a potential deal to end the war.
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Iron Ore Rises as Chinese Trading Resumes
Iron ore futures climbed back above CNY 800 per ton, halting a recent decline as trading resumed in China following a holiday-extended weekend, while investors continued to assess uncertainties surrounding the Middle East conflict. Markets are focused on President Donald Trump’s deadline for Iran to reach a deal or face attacks on civilian infrastructure, with the risk of a prolonged conflict fueling concerns over supply disruptions and a global economic slowdown. Iron ore also drew support from demand optimism after calls from Beijing to accelerate energy-related construction projects. President Xi Jinping highlighted plans to develop a new energy system to strengthen national energy security, including the construction of a major hydropower dam on the eastern edge of the Tibetan Plateau.
2026-04-07