- Ongoing negotiations between CMRG, Australian miner keep market cautious
- High-priced lumps face limited buying interest, price gap with fines narrows
Iron ore fines (Fe 61%) spot prices declined by $0.8/dmt d-o-d to $95.15/dmt CFR North China on 7 August 2026, following the spike yesterday.
Seaborne iron ore prices eased marginally as buyers continued to wait for clearer updates over negotiations between an Australian miner and the China Mineral Resources Group (CMRG) and their impact on medium-grade supply. With little confirmed information emerging, trading remained cautious.
Mills expect medium- and low-grade prices to remain supported in the near term. If concerns over availability persist, buyers could turn to alternative medium-grade brands, while sellers are likely to keep offers firm.
China’s portside prices were largely stable. The spread between blend fines and lump ore narrowed as high-priced lumps attracted limited buying interest, reducing liquidity. Fines, meanwhile, remained relatively well supported.
DCE iron ore futures: Iron ore futures for September 2026 on the Dalian Commodity Exchange (DCE) fell by RMB 4.5/t d-o-d to RMB 712/t on 8 August, weighing on market sentiment.
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