- Weak futures signal cautious sentiment ahead
- Sluggish demand weighs on spot buying
Iron ore fines (Fe 61%) spot prices edged up by $0.25/dmt d-o-d to $95.3/dmt CFR North China on 31 July 2026, showing a slight rebound.
Portside trading activity remained subdued, with most buyers adopting a cautious stance amid weak futures and uncertain steel demand. However, the recent correction in iron ore prices triggered selective bargain buying, as some participants considered current levels attractive for restocking.
Demand for mainstream Australian fines remained relatively resilient, supported by favourable landing margins and tightening port inventories, reflecting steady mill procurement. In contrast, blend fines continued to face ample availability at ports, limiting buying interest and keeping premiums under pressure.
As per reports, while physical demand for mainstream fines offered some support to spot prices, the broader market remained cautious amid weak downstream fundamentals and bearish sentiment in the futures market.
DCE iron ore futures: Iron ore futures on the Dalian Commodity Exchange (DCE) for the September 2026 dropped by RMB 20/t d-o-d to RMB 698.5/t on 1 August.
Leave a Reply