- Softer Chinese steel exports, rising Simandou supply weigh on prices
- Market waits for clarity around negotiations between CMRG, Australian miner
Iron ore fines (Fe 61%) spot prices edged down by $0.25/dmt d-o-d to $95.35/dmt CFR North China on 13 August 2026, as the market continued to wait for clearer signals regarding ongoing negotiations between an Australian miner and the China Mineral Resources Group (CMRG) and the potential implications for medium-grade iron ore supply.
Australian mainstream grades remained relatively attractive in the seaborne market, supported by favourable import margins compared with blend fines. However, demand for iron ore fines remained weak amid softer Chinese steel exports (which fell 2% m-o-m), while increasing availability from the Simandou project continued to weigh on sentiment.
China’s portside iron ore prices edged lower as weak steel mill margins kept buying interest subdued. High-grade ore premiums narrowed amid softer demand, although lump prices continued to find support from low portside lump inventories. Limited availability of alternative direct-charge materials also helped keep lump prices firm.
As per reports, seaborne prices appear to be catching up with portside levels after moving more rapidly than expected in recent sessions. Despite the recent price fluctuations, underlying demand was described as relatively healthy.
DCE iron ore futures: September 2026 iron ore futures on the Dalian Commodity Exchange (DCE) softened by RMB 2/t d-o-d to RMB 722.5/t on 14 August, reflecting continued market cautiousness.
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