Iron Ore Rises After 2-Week Lows

2026-07-23 07:53 By Mariene Camarillo 1 min. read

Iron ore futures hovered above CNY 750 per ton, recovering after touching two-week lows as resilient Chinese steel production and robust import demand supported prices despite weakness in the property sector.

China's crude steel output averaged 2.79 million tons per day in June, the highest since March, while iron ore imports climbed 6.4% year-on-year to a six-month high of 112.69 million tons.

Demand for imported ore was further underpinned by lower domestic production and inventory restocking, with port stockpiles declining to 156.6 million tons in the week ended July 17 from a record 166.9 million tons in mid-March.

However, gains remained capped by ample global supply, the ramp-up of Guinea's Simandou project, and continued weakness in China's property market, where first-half real estate investment fell 18%, and construction starts dropped 23.4% year-on-year.

Optimism over further Beijing stimulus following softer-than-expected second-quarter growth also supported sentiment.



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Iron Ore Rises After 2-Week Lows
Iron ore futures hovered above CNY 750 per ton, recovering after touching two-week lows as resilient Chinese steel production and robust import demand supported prices despite weakness in the property sector. China's crude steel output averaged 2.79 million tons per day in June, the highest since March, while iron ore imports climbed 6.4% year-on-year to a six-month high of 112.69 million tons. Demand for imported ore was further underpinned by lower domestic production and inventory restocking, with port stockpiles declining to 156.6 million tons in the week ended July 17 from a record 166.9 million tons in mid-March. However, gains remained capped by ample global supply, the ramp-up of Guinea's Simandou project, and continued weakness in China's property market, where first-half real estate investment fell 18%, and construction starts dropped 23.4% year-on-year. Optimism over further Beijing stimulus following softer-than-expected second-quarter growth also supported sentiment.
2026-07-23
Iron Ore Falls to 2-Week Low
Iron ore futures dropped below CNY 740 per ton on Wednesday, falling to their lowest level in two weeks as rising global supply coincided with a softer demand outlook in top consumer China. Brazilian miner Vale reported its strongest second-quarter production since 2018, with iron ore output rising 0.8% from a year earlier and exceeding market expectations. High inventories and ample physical supply across China also weighed on prices. On the demand side, persistent rainfall in southern China and extreme heat across northern regions continued to disrupt construction activity, reducing steel consumption. Industry data also showed blast furnace capacity utilization at surveyed steel mills fell below 90% last week, while mill profitability declined to around 37%.
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Iron Ore Drops on Demand Concerns
Iron ore futures fell below CNY 750 per ton, hitting a one-week low as seasonal weakness in Chinese steel demand and narrowing mill margins weighed on sentiment, though tighter supply expectations helped limit losses. Persistent rainfall across southern China and extreme heat in the north continued to disrupt construction activity, dampening steel consumption. Industry data also showed blast furnace capacity utilization at surveyed steel mills slipped below 90% last week, while mill profitability eased to around 37%. In addition, elevated inventories and abundant physical supply across China added further pressure to prices. However, the state-backed China Mineral Resources Group has barred some steel mills from taking delivery of Fortescue’s Super Special Fines and Fortune Fines, both lower-grade iron ore products, fueling concerns over near-term supply availability.
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