Iron Ore Approaches 7-Week Low

2026-09-28 07:07 By Jam Kaimo Samonte 1 min. read

Iron ore futures in China slipped to around CNY 705 per ton on Monday, nearing seven-week lows as ample global supply and weakening steel demand pressured the market.

Industry data showed iron ore inventories at major Chinese ports increased last week, while overseas shipments have recovered to elevated seasonal levels, easing previous supply-side disruptions.

Meanwhile, profitability at Chinese steel mills declined again last week, while average daily hot metal output also fell.

The China Iron and Steel Association has urged mills to reduce production and draw down inventories to protect margins and limit excess supply.

Separately, World Steel Association data showed global crude steel production fell 1.2% to 144.2 million tons in August from a year earlier.

Elsewhere, industrial profits in China slowed in August as weak domestic demand outweighed strength in high-tech and AI-related manufacturing, further weighing on the overall demand outlook.



News Stream
Iron Ore Approaches 7-Week Low
Iron ore futures in China slipped to around CNY 705 per ton on Monday, nearing seven-week lows as ample global supply and weakening steel demand pressured the market. Industry data showed iron ore inventories at major Chinese ports increased last week, while overseas shipments have recovered to elevated seasonal levels, easing previous supply-side disruptions. Meanwhile, profitability at Chinese steel mills declined again last week, while average daily hot metal output also fell. The China Iron and Steel Association has urged mills to reduce production and draw down inventories to protect margins and limit excess supply. Separately, World Steel Association data showed global crude steel production fell 1.2% to 144.2 million tons in August from a year earlier. Elsewhere, industrial profits in China slowed in August as weak domestic demand outweighed strength in high-tech and AI-related manufacturing, further weighing on the overall demand outlook.
2026-09-28
Iron Ore Pressured by Weak Fundamentals
Iron ore futures in China traded below CNY 715 per ton, hovering near one-month lows as weak fundamentals continued to weigh on the market. Supply remained ample, with shipments from top producer Australia rising above 21 million tons week-on-week, contributing to elevated port arrivals. Industry data also showed that iron ore inventories at seven major ports in Australia and Brazil increased by 258,000 tons to 11.95 million tons last week. Meanwhile, Chinese steel mills continued to face widening losses, largely due to elevated coking coal prices as safety inspections and mine suspensions in Shanxi restricted domestic supply. Softer demand from China’s construction and manufacturing sectors has also weighed on purchases of ferrous metals. However, iron ore prices remain supported by expectations that Chinese steel mills will step up restocking ahead of the extended Golden Week holiday in early October.
2026-09-24
Iron Ore Rises on Supply Risks
Iron ore futures in China climbed above CNY 710 per ton on Wednesday, recovering from losses in the previous session as fresh supply concerns supported prices despite ongoing demand headwinds. Analysts cited supply disruptions in top producer Brazil linked to El Niño weather patterns. Smaller Brazilian iron ore producers are also facing sharply higher shipping costs to major consumer China, squeezing margins and leading some to cut production. On the demand side, iron ore prices gained support from expectations that Chinese steel mills will restock ahead of the extended Golden Week holiday in early October. Meanwhile, the market continues to contend with weakening steel mill profitability in China, largely due to elevated coking coal prices as safety inspections and mine suspensions in Shanxi restricted domestic supply. Softer demand from China’s construction and manufacturing sectors has also weighed on ferrous metal purchases.
2026-09-23