- Weak China steel demand limits market upside
- Portside transactions witness moderate slowdown in activity
Iron ore fines (Fe 61%) spot prices remained largely stable at $101.35/dmt CFR China d-o-d on 11 June 2026 against 10 June.
Prices remained supported by concerns over a potential strike at a major Australian port, though sentiment shifted back toward weaker demand expectations amid sufficient July cargo arrivals. Meanwhile, the raw material market continued to face pressure from ongoing weakness in China’s steel sector.
Demand for finished steel has now entered the usual seasonal slowdown, with steel consumption continuing to weaken. This has added to concerns over future raw material demand and kept a cap on further gains in iron ore prices.
Procurement activity was slightly lower d-o-d, though buying interest in the market remained fairly stable. Overall trading activity weakened mainly due to reduced seaborne deals, while portside transactions also slowed to some extent. Even so, the revised shipment outlook provided only limited support to the spot market, as market participants continued to monitor weak steel demand and cautious buying activity in China.
DCE iron ore futures: Iron ore futures on the Dalian Commodity Exchange (DCE) for the September 2026 contract remained largely stable at RMB 766.5/t ($113/t) on 11 June.
Leave a Reply