Iron Ore Slides to Six-Week Low

2026-06-01 07:21 By Jam Kaimo Samonte 1 min. read

Iron ore futures fell below CNY 780 per ton, reaching their lowest level in six weeks as abundant global supplies continued to outweigh weakening demand conditions.

Industry data indicated that shipments from Australia and Brazil remained close to a two-year high, while iron ore stockpiles at Chinese ports stayed elevated, reinforcing concerns about oversupply.

On the demand side, recent figures showed that blast furnace utilization rates in China were unchanged from the previous week, while profitability among steel mills declined to 62.3%, pointing to softer industry conditions.

Meanwhile, a fatal accident at a steelmaking coal mine in China’s Shanxi province is expected to disrupt production in the near term, potentially raising input costs for steelmakers, power producers, and chemical manufacturers.

Separately, electrical workers at BHP’s Port Hedland bulk export terminal in Western Australia have threatened strike action before the financial year ends on June 30.



News Stream
Iron Ore Slides to Six-Week Low
Iron ore futures fell below CNY 780 per ton, reaching their lowest level in six weeks as abundant global supplies continued to outweigh weakening demand conditions. Industry data indicated that shipments from Australia and Brazil remained close to a two-year high, while iron ore stockpiles at Chinese ports stayed elevated, reinforcing concerns about oversupply. On the demand side, recent figures showed that blast furnace utilization rates in China were unchanged from the previous week, while profitability among steel mills declined to 62.3%, pointing to softer industry conditions. Meanwhile, a fatal accident at a steelmaking coal mine in China’s Shanxi province is expected to disrupt production in the near term, potentially raising input costs for steelmakers, power producers, and chemical manufacturers. Separately, electrical workers at BHP’s Port Hedland bulk export terminal in Western Australia have threatened strike action before the financial year ends on June 30.
2026-06-01
Iron Ore Heads for Monthly Loss
Iron ore futures steadied above CNY 780 per ton but remained on track for a monthly decline as abundant global supply continued to outpace weakening demand conditions. Industry data showed shipments from Australia and Brazil hovering near a two-year high, while iron ore inventories at Chinese ports stayed elevated. On the demand side, the latest figures showed blast furnace operating rates in China were unchanged from the previous week, while profitability among steel mills slipped to 62.3%. Meanwhile, a deadly accident at a steelmaking coal mine in China’s Shanxi province is expected to disrupt output in the near term, potentially increasing costs for steel producers, power generators and chemicals manufacturers. Separately, electrical workers at BHP’s Port Hedland bulk export terminal in Western Australia threatened to launch strike action before the end of the financial year on June 30, adding to concerns over potential supply disruptions.
2026-05-29
Iron Ore Drops to 1-Month Low
Iron ore futures dropped toward CNY 780 per ton, hitting their lowest level in a month as abundant supply and subdued demand continued to pressure the market. Inventory levels remain elevated, while shipments from major producers Australia and Brazil have continued to increase, adding to supply-side pressure. Meanwhile, China’s iron ore imports rose 8% year-on-year in the first four months of the year to 418.6 million tons. On the demand side, sluggish downstream steel consumption has continued to limit steel mills’ appetite for raw material purchases. China’s steel output declined 2.8% from a year earlier to 86.63 million tons in April, marking the weakest April production level since 2018. Steel margins in China also remain under pressure amid persistent weakness in the country’s infrastructure and property construction sectors.
2026-05-26