- Trading activity remained limited across mainstream fines
- Expected coke hikes weighed on buying sentiment
Iron ore fines (Fe 61%) spot prices remained largely supported; edgeing up marginally by $0.1/dmt to $98.9/dmt CFR China d-o-d on 30 June 2026. The market remained largely range-bound, supported by improved sentiment in China after manufacturing PMI data returned to expansion territory, along with lower iron ore shipments from Australia and Brazil. However, weak seasonal steel demand continued to limit any significant upside in prices.
Trading activity stayed thin, with most transactions focused on mainstream fines. Buyers remained cautious toward medium-grade fines amid expectations of higher coke prices, which could increase cost pressure on steelmakers.
Support from the supply side also persisted, as shipments from Australia and Brazil declined for the third straight week, tightening seaborne availability to some extent.
At the same time, the market is entering the seasonal slowdown period in China. Rising temperatures and ongoing rains in southern regions are expected to impact construction activity, weighing on steel consumption and production in the near term.
DCE iron ore futures: Iron ore futures on the Dalian Commodity Exchange (DCE) for the September 2026 contract edged down slightly by RMB 3.5/t to RMB 743.5/t ($110/t) on 1 July.
Leave a Reply