- Medium-grade fines face inventory pressure
- Weak port fundamentals cap buying interest
Iron ore fines (Fe 61%) spot prices fell by $0.90/dmt d-o-d to $98.90/dmt CFR North China on 20 July 2026, trading continued to focus on mainstream medium-grade fines. Seaborne prices faced downward pressure due to high port inventories of medium-grade material, despite an overall decline in total iron ore stocks.
Iron ore prices at Chinese ports have continued to decline, reflecting weak market fundamentals. Although overall port inventories decreased compared to the previous week, high stock levels of medium-grade fines have dampened buying interest and limited any potential price increases.
As per reports, mills anticipate that seaborne cargo arrivals will rise in the coming days as monsoon-related congestion eases, which could replenish port stocks. Additionally, significant volumes of cargo are still on vessels awaiting discharge, reinforcing expectations of a plentiful supply and restricting the potential for a price recovery.
DCE iron ore futures: Iron ore futures on the Dalian Commodity Exchange (DCE) for the September 2026 contract dropped to RMB 749/t on 20 July.
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