- Some buyers seeking out low-priced cargoes amid holiday lull
- Production cuts, high port inventories may limit price recovery
Iron ore fines (Fe 61%) spot prices remained unchanged at $91/dmt CFR China on 5 October 2026, holding close to last week’s level. The Chinese market remained largely subdued due to the ongoing Golden Week holiday, with limited physical trading activity.
Market players held mixed views on the near-term outlook. While some buyers continued to monitor the market and were heard securing low-priced cargoes during the holiday in anticipation of a possible recovery, others remained cautious. As per reports, ongoing production cuts at Chinese mills and high port inventories are expected to limit any significant price recovery when buyers return to the market after the holidays.
China’s iron ore port market also remained quiet amid the holiday break. Substantial volumes are not expected to be booked in the current period.
DCE iron ore futures remain stable
January 2027 iron ore futures on the Dalian Commodity Exchange (DCE) remained stable at RMB 702.5/t ($104.6/t) on 5 October, with the exchange closed for the Golden Week holiday.
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