- Persistent supply concerns, limited spot offers drive up prices
- Demand remains weak amid sintering restrictions on mills
Iron ore fines (Fe 61%) spot prices remained largely firm, gaining around $0.2/dmt to $99.8/dmt CFR China on 17 July 2026, despite subdued trading. Prices continued to find support near the $100/t mark amid persistent supply concerns and limited spot offers.
Market sentiment remained supported by uncertainty surrounding the Port Hedland strike and ongoing negotiations between the China Mineral Resources Group (CMRG) and Australian miner. Fresh market discussions indicated that the talks may be extended, raising concerns over near-term supply availability. However, as per reports, adequate medium-grade inventories at Chinese ports could limit the immediate supply impact.
Demand remained weak as mills continued to face sintering restrictions, elevated coke prices (which have raised steel production costs and contracted mill margins), and poor import margins. Most steelmakers preferred direct-feed materials over fines, while some mills were also destocking imported fines through port resales.
DCE iron ore futures: Iron ore futures on the Dalian Commodity Exchange (DCE) for the September 2026 contract softened by RMB 7/t d-o-d to RMB 757.5/t on 18 July.
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