- DCE iron ore futures remain rangebound
- Weak macro data weighs on market sentiment
Iron ore fines (Fe 61%) spot prices fell by $1.5/dmt to $108.45/dmt CFR China on 18 May against $109.95/dmt on 15 May 2026.
Iron ore prices declined with sparse trades observed for medium-grade fines, as weaker buying appetite in the seaborne market weighed on sentiment. The broader ferrous complex remained under pressure following disappointing Chinese economic data and expectations of seasonally lower steel consumption. Steel mills largely continued need-based procurement, limiting fresh buying interest.
The decline in raw material prices was mainly attributed to subdued sentiment in China, as fresh April data reinforced concerns over slowing economic recovery momentum. Trading activity also softened compared to last week, reflecting increasingly cautious procurement behaviour from buyers.
DCE iron ore futures: Iron ore futures on the Dalian Commodity Exchange (DCE) for the September 2026 contract edged down slightly by RMB 3/t ($0.45/t) to RMB 802.5/t ($118/t) on 19 May against 16 May.
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