Iron Ore & Steel

Brazil's securities regulator is reviewing a compensation arrangement tied to the July 6 resignation of Vale chairman Daniel André Stieler. Vale confirmed the payment was for a non-disclosure agreement, not severance. The probe adds governance uncertainty at the world's top iron ore producer amid ongoing supply negotiations. Read →

China Mineral Resources Group directed steel mills not to accept certain Fortescue Super Special Fines and Fortune Fines cargoes after July 15. The move affects lower-grade material already stockpiled at Chinese ports. It escalates Beijing's campaign to gain pricing leverage over Australian miners during contract talks. Read →

Imported iron ore prices in China traded in a narrow band on July 9 with a persistently bearish tone. High port inventories and subdued steel mill margins continue to cap upside despite supply-side headlines. Mills remain cautious on procurement amid soft finished-steel demand. Read →

Hundreds of BHP port and maintenance workers at Port Hedland in Western Australia voted for an eight-hour stoppage on July 16 after six months of failed labor talks for a four-year deal. The action targets operations shipping up to $80 million daily in iron ore exports. Unions and BHP are scheduled to meet July 14 to potentially avert disruption. Read →

China Mineral Resources Group verbally instructed some steel mills not to take delivery of Fortescue's Super Special Fines and Fortune Fines from July 15. The low-grade products represent nearly 5% of major Chinese port iron ore stocks at 7.22 million tons as of June 30. Fortescue continues supply negotiations with CMRG. Read →

Iron ore prices advanced back above $100 per ton driven by potential disruptions at BHP's Port Hedland operations. Chinese mills remain cautious buyers. Persistent market backwardation signals expectations of softer prices ahead despite the near-term lift. Read →

The most active September 2026 iron ore contract on the Dalian Commodity Exchange fell 3.5 yuan to 735.5 yuan per tonne on Tuesday. Trading volume reached 239,496 lots. Weakness reflects softening Chinese steel demand and seasonal factors. Read →

DCE iron ore futures closed lower with spot prices down 1-2 yuan/mt. SMM data shows blast furnace maintenance impact at 1.2637 million mt this week, up 77,800 mt week-on-week and set to rise further. Iron ore demand is expected to contract, pressuring prices in a bearish range. Read →

Imported iron ore inventories at 47 major Chinese ports declined 826,300 tonnes or 0.5% week-on-week to 174.61 million tonnes. The drawdown occurs against a backdrop of subdued domestic steel demand and ongoing blast furnace curtailments. Read →

China Mineral Resources Group told steel mills and traders not to buy new USD cargoes of Fortescue Super Special Fines, escalating the dispute. SGX iron ore futures climbed as much as 1.2% to near $99/t and DCE futures rose 0.9% to 740.5 yuan/t. The move supports prices after a 12% retreat from May peaks driven by seasonal Chinese demand weakness and rising seaborne supply. Read →

CMRG instructed mills not to buy new USD-denominated Super Special Fines cargoes while port inventories must clear by July 15 or face restrictions. Super Special Fines represent about 45% of Fortescue's recent shipments. Negotiations over long-term supply contracts remain deadlocked. Read →

Inventories at 47 major Chinese ports dropped 826,300 tonnes or 0.5% week-on-week to 174.61 million tonnes as of July 2, ending five straight weeks of gains. Stocks remain 20.5% higher than a year earlier. New arrivals rose but port congestion limited stock buildup. Read →

Iron ore futures climbed as much as 1.2% to $99/t after China Mineral Resources Group told steel mills and traders not to buy new USD-denominated cargoes of Fortescue’s Super Special Fines. The curbs escalate Beijing’s push for pricing control and have supported prices in recent weeks amid a multi-month slump that drew bargain buying. Read →

China Mineral Resources Group expanded restrictions to bar new purchases of Fortescue Super Special Fines beyond portside stocks, requiring delivery by July 15 or facing blacklisting and logistics blocks. The move mirrors tactics used against BHP and aims to strengthen CMRG’s bargaining power with Australian miners. Read →

China’s National Bureau of Statistics reported local rebar prices dropped 1.8% in the second half of June, reflecting persistent weak domestic demand tied to the property sector slowdown. The decline underscores pressure on steelmakers’ margins amid high port iron ore stocks and limited infrastructure or property stimulus. Read →

The China steel benchmark rose 0.13% to 3,058 CNY/t, though it remains down 2.49% over the past month. Rebar futures hover near eight-month lows as EU import quotas tighten and Chinese summer demand stays subdued from the ongoing property downturn. Read →

CMRG directed some domestic steel mills to avoid taking certain Fortescue portside products from July 15. Fortescue ships most output to China and continues supply negotiations with CMRG. The action follows CMRG's prior directive against mills discussing Fortescue's new Fortune Fines product. Read →

CMRG informed steelmakers and traders to take delivery of Fortescue Super Special Fines by July 15 or face blacklisting and logistical restrictions. Negotiations on long-term contracts have stalled, with some July shipments already delayed. The step tightens CMRG control over pricing and mirrors its earlier BHP dispute. Read →

Rebar and other steel futures on Chinese exchanges showed limited movement on July 2 with domestic long steel markets steady to down. Iron ore 62% Fe CFR China prices fell 0.65% weekly. Weak pre-holiday demand and bearish sentiment weighed on longs amid broader margin pressure on mills. Read →

China's state buyer CMRG told mills not to take Fortescue Super Special Fines and Fortune Fines port cargoes after July 15 amid stalled pricing talks. Fortescue ships most output to China and negotiates new terms with the centralised buyer. The move follows a similar BHP standoff resolved in April and highlights Beijing's push for procurement control. Read →

Iron ore futures rose as much as 3.8% to $101.20/t in Singapore night trading after CMRG signalled it would blacklist some Fortescue port inventories from July 15. Mills and traders holding Super Special Fines were urged to clear stocks beforehand. China remains the dominant seaborne buyer, taking most cargoes from Australia and Brazil. Read →

Hebei's steel sector PMI dropped to 46.5 in June, with the new orders sub-index falling 14.7 points to 39.0. The contraction reflects sluggish domestic demand tied to the property sector slowdown. Hebei produces over 20% of China's steel output. Read →

Fortescue Metals Group shipped over 200 million mt of iron ore in its latest fiscal year, the first time it has exceeded that mark. Cumulative shipments since 2008 now top 2.5 billion mt. The record underscores expanded Pilbara capacity and integrated rail-port operations serving mainly Chinese buyers. Read →

China’s steel sector PMI edged down 0.1 point to 47.8 in June per China Steel Logistics Committee. New orders and export orders weakened while finished steel inventories jumped. The reading signals contracting activity and will weigh on iron ore and steel demand into July’s off-season. Read →

SteelOrbis published daily CFR China iron ore prices for June 30. The update shows spot values holding near $100/t levels with limited daily movement. Weak Chinese steel demand keeps pressure on the seaborne benchmark used by SGX and physical traders. Read →

DCE iron ore futures touched but failed to hold the $100/t psychological level on June 30 as sentiment cooled. Spot prices stayed largely flat while futures dipped. Persistent weak Chinese steel demand and high port stocks cap upside for the 62% Fe benchmark. Read →

Iron ore prices remain above $100/t as China’s manufacturing PMI showed renewed momentum. The support contrasts with softer steel-specific indicators and property demand. Traders watch the divergence between broader factory activity and steel consumption for near-term direction. Read →

Fortescue achieved its first-ever 200 million tonne iron ore shipment in a single year, up from 140 vessels in its debut 2008 year. The milestone underscores sustained high output from its Pilbara operations despite broader market softness. It highlights supply resilience from a top producer as steel demand lags in China. Read →

BHP, Rio Tinto and Caterpillar began trialing Cat 793 XE battery-electric haul trucks at BHP’s Jimblebar iron ore mine in Western Australia. The collaboration tests charging infrastructure and performance in harsh Pilbara conditions after initial validation. It signals major miners’ push to cut emissions from core iron ore operations. Read →

Iron ore futures showed limited direction as rising China hot metal output failed to lift broader demand. Traders weighed the increase against persistent weak steel consumption and ample supply. The disconnect keeps pressure on prices and futures like those on SGX and DCE. Read →

Benchmark iron ore prices fell to $99.2/t as of June 26, the lowest since August 2025. Elevated Chinese port stocks near record levels and rising seaborne supply from Australia and Brazil weighed on the market. Steel mill margins remain squeezed, limiting any rebound. Read →

China's rebar, square billet and hot-rolled coil prices all extended declines during June 22-26 as domestic steel market sentiment softened with lackluster end-user demand in the traditional summer off-season. Imported iron ore spot prices also continued declining despite a slight futures uptick, pressured by weak fundamentals. This matters for margins at Chinese blast furnaces and EAF mills as well as SGX/DCE iron ore benchmarks. Read →

Champion Iron announced initial production of direct reduction quality iron ore from its DRPF Project at Bloom Lake, with a first commercial Capesize shipment of at least 160,000 wet metric tonnes expected in Q3 2026. The project upgrades capacity to up to 69% Fe pellet feed for DRI/EAF steelmaking. This supports premiums for high-purity iron ore amid the shift from blast furnaces toward lower-carbon EAF routes. Read →

Fortescue shares underperformed the broader ASX as iron ore hovered just above US$100/t after an 8.18% monthly drop, drawing focus to its lower-grade product mix and June-quarter margins. The stock closed at A$19.07, down 4.51% for the week. Lower prices pressure Fortescue, BHP, Rio Tinto and Vale while Chinese mills favor cost-focused procurement. Read →

Iron ore prices reclaimed the US$100/t level supported by output cuts in Guinea and underlying Chinese demand signals. The move comes amid broader market volatility and follows recent weakness tied to high port inventories. This provides a near-term floor for SGX and DCE 62% Fe contracts and supports major miners including Vale. Read →

SGX iron ore futures fell to $96.95 a ton intraday on Friday, the lowest since February, down 1.5% for the week. Seasonal demand weakness in China and narrower steel mill margins drove the decline, with prices on track for a second consecutive monthly drop. Read →

Incoming BHP CEO Brandon Craig is splitting the Americas oversight role effective July 1 ahead of his start date. Jessica Farrell will lead North America operations as the miner sharpens focus on regional growth amid iron ore market pressures. Read →

BHP announced the split of its President Americas position into separate North and South America roles as part of leadership changes. The move comes as the major iron ore producer prepares for its incoming CEO transition. Read →

DCE iron ore CNY contract closed at 735 CNY per ton, down 1.21% on the day and 5.89% for the month. Weak Chinese steel demand and broader market softening pressured the benchmark 62% Fe pricing. Read →

Iron ore prices fell to 100.52 USD per tonne on June 24, down 0.01% from the prior day and 8% over the past month. The benchmark tracks seaborne 62% Fe CFR China deliveries via CFD. Weak Chinese steel output and rising port inventories continue to pressure the market. Read →

Steel futures fell to 3,068 CNY per tonne on June 25, down 0.45% and 2.88% over the past month. China's May crude steel output dropped 2.7% year-on-year to 84.35Mt amid property sector weakness, with exports providing some offset but facing rising trade barriers. Read →

South Korea applied anti-dumping duties on hot-rolled steel imports from China and Japan while considering a minimum price system. The move targets surging low-priced Chinese exports amid domestic demand weakness and adds to global protectionist pressure on Chinese steelmakers. Read →

DCE's most-traded I2609 contract closed up 0.74% at 744 yuan/mt after morning gains. Port spot prices rose 4-9 yuan/mt on moderate miner activity and restocking buys. Hot-metal output fell 4,300 mt WoW to 2.4607 million mt, signaling weaker demand ahead, though supply-tightening rumors lifted sentiment. Read →

Unions may launch coordinated action at BHP's Port Hedland if talks fail July 7. The port handles $150 million daily iron ore shipments for BHP, Fortescue and Hancock. Escalating labor risks add to costs for Australia's top export, potentially disrupting supply flows. Read →

Macquarie attributes H1 iron ore resilience mainly to freight costs and rising expenses rather than fundamentals. It maintains $103/ton 2026 and $100/ton Q3 forecasts as attention shifts to supply-demand balance. Elevated freight has supported a $85/ton cost floor. Read →

DCE most-traded contract fell to US$108.81/t near four-month lows on June 23 amid higher expected shipments and weaker seasonal demand. SGX July contract dropped to US$97.80/t, lowest since late February. Lower freight and energy prices added pressure. Read →