- Steel margin pressure and cautious buying limit price recovery
- Dalian futures edge higher amid persistent market uncertainty
Iron ore fines (Fe 61%) spot prices remained unchanged d-o-d at $90/dmt CFR North China on 15 October 2026, as marginal improvement in steel mill margins failed to support a recovery amid subdued steel profitability and uncertain downstream demand.
China’s iron ore portstock prices declined for the fifth consecutive day as mills continued to procure on an as-needed basis. While some market participants began exploring bargain purchases in anticipation of a rebound, broader sentiment remained cautious, with expectations that prices could decline further before reaching a bottom.
Dalian iron ore futures edge higher amid cautious sentiment
The January 2027 iron ore futures contract on the Dalian Commodity Exchange (DCE) edged up by RMB 1/t ($0.15/t) d-o-d to RMB 673/t ($101/t) on 15 October 2026. The marginal gain indicated relative stability in futures, although subdued steel mill profitability, weak spot demand and elevated uncertainty continued to limit upward momentum.
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