- Portside trading improves but restocking remains selective
- Ample supply of lower-alumina ore caps demand for medium grades
Iron ore fines (Fe 61%) spot prices held steady d-o-d at $97.05/dmt CFR North China on 25 August 2026, with selective restocking and cautious demand.
Portside trading activity improved as some buyers returned at competitive price levels. However, procurement remained selective rather than broad-based, limiting any immediate upside.
The wider steelmaking cost environment, including coal, is also influencing buying decisions. With margins under pressure, mills may remain reluctant to chase higher-priced cargoes, especially if steel profitability weakens further.
Meanwhile, ample availability of lower-alumina material is providing buyers with more options and reducing urgency for medium-grade cargoes. This has kept the premium segment under pressure and capped gains in the spot market.
Overall, China’s iron ore market may remain range-bound, with intermittent volatility. Improved restocking and firmer steel margins could provide stronger support to prices in the medium term.
DCE iron ore futures: January 2027 iron ore futures on the Dalian Commodity Exchange (DCE) dipped slightly to RMB 716/t ($107/t) on 25 August.
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