- Trade remains strong for both mid-, high-grade ore
- Elevated portside inventories limit price increases
Iron ore fines (Fe 61%) spot prices edged up by $0.25/dmt d-o-d to $105.35/dmt CFR China on 28 May 2026 against 26 May. Iron ore prices remained largely stable, supported by active portside demand and improved sentiment in the downstream pig iron segment. Trading activity for both mid-grade and high-grade cargoes remained healthy, while a rise in coking coal futures — triggered by expectations of tighter coal supply in China after revised mine safety standards — also lent support to steel and raw material markets.
However, gains in iron ore prices were capped by ample inventories at Chinese ports. However, rising coke prices lent some support. In addition, the seasonal slowdown in China’s steel sector continued to weigh on demand expectations, limiting stronger upward momentum in the iron ore market.
DCE iron ore futures: Iron ore futures on the Dalian Commodity Exchange (DCE) for the September 2026 contract were stable at RMB 782.5/t ($115/t) on 29 May d-o-d.
Leave a Reply