Iron Ore Hits Four-Week High

2026-11-05 07:38 By Jam Kaimo Samonte 1 min. read

Iron ore futures advanced toward CNY 690 per ton, reaching their highest levels in four weeks as improving profit margins boosted market sentiment.

Industry data showed that the average margin on imported iron ore turned positive during the latest period, rising from -CNY 3.09 per ton to CNY 2.36 per ton, mainly supported by slightly lower freight costs and higher spot prices at Chinese ports.

Steelmaking margins have also improved recently amid lower coke costs, strengthening expectations of increased hot metal production in the coming weeks.

However, signs of abundant global supply continued to weigh on the market, with combined output from 16 major mining companies increasing by around 22.98 million tons YoY during the first three quarters of 2026.

On the demand side, an industry survey found that 17 blast furnaces across China underwent maintenance in October, reducing daily hot metal production by about 57,100 tons, with most of the affected facilities located in North China.



News Stream
Iron Ore Hits Four-Week High
Iron ore futures advanced toward CNY 690 per ton, reaching their highest levels in four weeks as improving profit margins boosted market sentiment. Industry data showed that the average margin on imported iron ore turned positive during the latest period, rising from -CNY 3.09 per ton to CNY 2.36 per ton, mainly supported by slightly lower freight costs and higher spot prices at Chinese ports. Steelmaking margins have also improved recently amid lower coke costs, strengthening expectations of increased hot metal production in the coming weeks. However, signs of abundant global supply continued to weigh on the market, with combined output from 16 major mining companies increasing by around 22.98 million tons YoY during the first three quarters of 2026. On the demand side, an industry survey found that 17 blast furnaces across China underwent maintenance in October, reducing daily hot metal production by about 57,100 tons, with most of the affected facilities located in North China.
2026-11-05
Iron Ore Pressured by Rising Shipments
Iron ore futures held below CNY 680 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