- Active trade in mid-grade fines drives up prices
- US-Iran agreement boosts market optimism
Iron ore fines (Fe 61%) spot prices edged up by $0.7/dmt to $102.2/dmt CFR China on 15 June 2026 against 12 June last week.
Prices increased amid active trading in mid-grade fines, whose import margins remained favourable. Although the announcement of the seventh round of coke price hikes earlier this week increased production costs, the impact on iron ore prices was limited. As per reports, the recent rise was primarily supported by the availability of comparatively cheaper cargoes that attracted buyers, rather than any meaningful recovery in underlying demand.
Chinese end-users continued to stay cautious as weaker downstream steel sales and rising coke costs kept pressure on steel mill margins. Although there were no visible signs of significant production cuts, steel output growth remained subdued, with mills continuing to favour low-priced cargoes over aggressive restocking.
Additionally, sentiment across the ferrous segments improved after the US and Iran confirmed a framework agreement to end hostilities and reopen the Strait of Hormuz, a major diplomatic breakthrough to end the 100-day conflict in the Middle East. The development boosted optimism surrounding global trade and economic growth, supporting buying interest across steel and raw material futures markets.
DCE iron ore futures: Iron ore futures on the Dalian Commodity Exchange (DCE) for the September 2026 contract rose slightly by RMB 6/t ($1/t) to RMB 771/t ($114/t) on 16 June.
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