Iron Ore & Steel

The China Iron and Steel Association called for wider use of yuan-denominated index pricing in iron ore. It said the shift would better reflect supply and demand in China's dominant market and complement existing dollar benchmarks via port-side spot transactions. Read →

Unionised workers at BHP's Port Hedland operations, the world's largest iron ore export port, will stage a 24-hour ship-loading ban on Aug 8 followed by a full work stoppage on Aug 9 after failing to agree a new enterprise deal. The action threatens up to A$120mn in lost export revenue per day and directly risks supply from BHP's 256.9Mt WA iron ore output. Port Hedland handles all of BHP's Australian shipments to China, the dominant buyer of seaborne ore. Read →

China's state iron ore buyer CMRG instructed some steel mills to halt negotiations with Rio Tinto for shipments starting September amid ongoing annual supply talks. The move escalates Beijing's campaign to extract better terms from major miners including BHP and Fortescue. It targets the $132bn seaborne iron ore market and could disrupt flows to Chinese blast furnaces. Read →

Dalian iron ore futures I2609 closed up 0.93% at 706 yuan/mt with Qingdao spot prices gaining 3-8 yuan/mt. Blast furnace operating rates held near 89% while hot metal output dipped slightly month-on-month amid maintenance. Short-term iron ore demand stays stable despite false invoice concerns tightening trade liquidity. Read →

Iron ore prices rebounded and held the $95/t level amid futures gains. The move follows recent weakness tied to Chinese steel mill losses and high port inventories. Traders note active quoting and mill spot buying as needed. Read →

Jefferies confirmed some invoices for financing to iron ore trader Sapphire Minmetals Corp. are not genuine after checks with Vitol. The discovery adds to scrutiny on the Point Bonita fund and related exposures. It highlights counterparty risks in physical iron ore trading amid soft prices. Read →

Glencore CEO Gary Nagle said the firm has stopped new business with iron ore trader Radiant World and taken a non-material provision on its exposure. The step follows earlier reviews of invoice discrepancies at the trader. It signals tightening credit conditions for Chinese-linked iron ore counterparties. Read →

BHP workers at Port Hedland notified two days of industrial action for Aug 8-9 over unresolved wage negotiations. The hub handles roughly 80 million tonnes of iron ore annually; up to 16 shipments could face delays. Action comes as iron ore prices sit near multi-month lows, adding supply-side uncertainty. Read →

SGX iron ore futures fell to $92.85/t, the lowest since late June 2025, before recovering little changed. Seasonally weaker Chinese demand and narrowing steel mill margins weighed on prices. Lack of major new stimulus from Beijing hurt sentiment further. Read →

Odisha inspected sites and found consistent grade manipulation by lessees including JSW, Tata Steel, SAIL and others, causing revenue loss. Stricter checks already limit lower-grade ore offers in the merchant market. Disruption in India's top iron ore state risks tightening domestic supply for its steel sector. Read →

Unions will impose 24-hour loading bans on Aug 8-9 at BHP's Port Hedland, the world's largest iron ore export hub, despite progress in talks. The action could hold up 16 shipments; BHP says it has contingency plans. Next meeting set for Aug 18, same day as BHP's annual results. Read →

Iron ore futures retreated as much as 2.3% to $93.65 a ton in Singapore, the lowest intraday level since early July 2025. The Dalian most-traded contract declined nearly 3%. The drop compounds softness from a challenging China demand outlook and concerns over major physical trader Radiant World. Read →

Futures fell as much as 1.9% to $94.10 a ton in Singapore and nearly 3% in Dalian. Chinese mill margins weakened further with hot-metal output down for a fourth week; construction activity hit its lowest since the pandemic start. Vitol and Cargill halted business with trader Radiant World over fake-invoice concerns. Read →

The most-traded September DCE iron ore contract fell 2.16% to 703 yuan. Weak steel-mill demand and rising port inventories continue to pressure prices. Read →

Iron ore futures on DCE dropped toward CNY 720 per ton, their lowest since June 2025, as average losses at Tangshan steel mills widened beyond CNY 100 per ton. Weakening demand outlook for the steelmaking input pressured prices. The move signals sustained pressure on the iron ore complex from Chinese mill profitability. Read →

The 62% Fe iron ore benchmark fell to 98.25 USD/t on July 30. Prices are down 0.11% over the past month and 0.88% year-over-year. This reflects ongoing softness in the seaborne market tied to Chinese consumption. Read →

Rio Tinto's half-year results showed copper and aluminium generating 56% of underlying earnings, with copper alone at 39% and its EBITDA up 84% versus a 1% decline for iron ore. BHP's prior half also saw copper surpass iron ore in driving profits. This shift matters as China's steel output eases while new supply arrives, pressuring iron ore margins for the majors. Read →

Iron ore futures fell toward CNY 720 per tonne at a 13-month low. Weak steel demand, property contraction and rising port inventories pressure the physical market as Chinese steel mills deepen losses. This highlights immediate headwinds for the iron ore complex. Read →

China's crude steel production fell 3% year-on-year to 499.95 million tons in the first half of 2026. Rebar inventories rose to 4.94 million tons in the week to July 17. SGX iron ore contracts settled at $99.00/t on Monday, supported by ample supply from Australia and Brazil despite weaker steel demand. Read →

SGX iron ore (IODEX) futures settled at 97.70 USD per tonne, down 0.13% from the previous close of 97.83. The market shows limited movement as China remains the key importer for seaborne iron ore from Australia and Brazil. Read →

Iron ore futures dropped toward CNY 740 per ton near three-week lows. Imported iron ore inventories at Chinese ports stayed elevated and steel mill stockpiles rose 8% last week. Record Pilbara shipments underscore abundant global supply pressuring prices. Read →

Beijing’s China Mineral Resources Group is banning some BHP and Fortescue purchases to force yuan payments and Chinese benchmarks during contract talks. BHP’s 62% iron ore EBITDA margin contrasts with struggling Chinese steelmakers amid overcapacity. The shift threatens Australian miners’ dominance as China pushes green steel and scrap recycling. Read →

China’s iron ore port stocks rose slightly in the latest data. CISA members’ daily crude steel output held steady in mid-July. Thinning stocks elsewhere lifted pellet premiums to multi-year highs. Read →

Dalian iron ore futures posted their largest weekly decline in six weeks amid mandated blast furnace production cuts ahead of events in China and subdued steel demand. The move pressures benchmark 62% Fe pricing and highlights weakness in the China steel cycle. Read →

Chinese stainless steel exports declined 17.6% year-on-year in the first half of 2026. The drop reflects broader challenges for Chinese steel export flows amid global trade frictions and softening overseas demand. Read →

Imported iron ore inventories at Chinese mills increased in the latest week as blast furnace utilization and consumption declined. Higher port and mill stockpiles signal easing supply pressure on the 62% Fe market. Read →

Rebar futures stabilized around CNY 3,090 per ton after prior declines. Higher iron ore prices and resilient June crude steel output averaging 2.79 million tons per day lifted sentiment. Persistent property sector weakness with first-half real estate investment down 18% year-on-year and weather disruptions limited gains. Read →

Benchmark 62% Fe iron ore rose 0.09% to $98.47 per tonne on July 23. The move follows a 2.04% monthly decline and comes as Chinese steel output stays resilient. SGX and DCE futures reflect the narrow trading range near $98-100/t. Read →

Iron ore prices in China declined amid an ongoing demand-supply imbalance. Domestic output fell 7% in the first half of 2026 while imports remained strong. The imbalance caps upside despite steady miner shipments from BHP, Rio Tinto and Vale. Read →

DCE most-active i2609 contract closed at 739.5 yuan/mt, down 1%. Qingdao spot prices fell 4-8 yuan/mt with mills sidelined. SMM data showed blast-furnace utilization at 89.49%, down 0.5pp WoW, and hot-metal output down 13,500 mt/day WoW; iron-ore demand expected to stay weak. Read →

Vale reported Q2 iron-ore production of 75.971 Mt, up 0.8% YoY, with record S11D and Brucutu output plus Capanema/VGR1 ramp-up. Pellet output fell 7% to 7.303 Mt. Iron-ore sales rose 3.1% to 79.747 Mt. Read →

Vale shares advanced after its Q2 report showed iron-ore output at its highest second-quarter level since 2018, with gains also in copper and nickel. Production strength came from S11D records and project ramp-ups despite some pellet weakness. Read →

Mysteel published latest Jingtang-port HRC export quotes including 3.0*1250*C SPHC from HBIS Tangsteel/Chengsteel and Shougang Group on FOB terms. Quotes cover minimum 500-tonne lots with 60-day delivery. Read →

China State Shipbuilding Corporation delivered the 41,800-tonne Wontanara, the world's largest and fastest self-unloading transshipment vessel, to Rio Tinto's SimFer JV for the Simandou project in Guinea. The ship unloads at 12,000 tonnes per hour and will support ramp-up of high-grade ore shipments to China. It marks a logistics advance that could accelerate supply growth and influence seaborne iron ore flows and pricing. Read →

Comex Stat data showed Brazil shipped a record 42.2 million tonnes of iron ore in June, up 51% month-on-month and 17.4% year-on-year, with 32.1 million tonnes to China. The surge adds to seaborne supply and supports Chinese mills amid soft domestic steel demand. Read →

Latest Chinese futures settlement data for iron ore, rebar and related contracts released after Tuesday trading. Moves reflect ongoing pressure from seasonal demand weakness and supply inflows ahead of further Simandou ramp-up. Read →

Iron ore futures fell as much as 1.6% on the Singapore Exchange and 2.2% on the Dalian Commodity Exchange to multi-week lows. Deteriorating profit margins at Chinese steel mills and US-Iran tensions weighed on demand expectations for the steelmaking raw material. Read →

June steel output reached 83.67 million tons, up slightly month-on-month but down 3% year-to-date, with first-half property investment falling 18%. June iron ore imports climbed to a six-month high of 112.69 million tons, lifting six-month imports 6.3% to 628.87 million tons while port stocks eased from record highs. Read →

BHP and unions at the world's largest iron ore export port made progress in enterprise agreement talks but reached no deal, scheduling further negotiations for July 28. The site handles about $80 million of BHP iron ore daily; recent short stoppages have not significantly disrupted operations. Read →

Iron ore futures retreated below CNY 760 per ton from one-month highs. Seasonal weakness in Chinese steel demand and narrowing mill margins weighed on prices. BHP's lower quarterly output and looming Port Hedland strike contrasted with Rio Tinto's higher shipments, while China Mineral Resources Group barred some mills from Fortescue lower-grade fines. Read →

China's steel exports reached 10.3 million tons in May 2026, the first time above 10 Mt this year, up nearly 8% MoM despite weak domestic demand. Exports for H1 fell 5.6% YoY to 57.87 Mt overall. Rebar and HRC futures showed marginal recovery amid maintenance cuts and destocking, but property/infrastructure weakness persists. Read →

About 200 unionized operators and maintenance workers at BHP's Port Hedland operations staged an eight-hour stoppage Thursday after stalled pay talks. BHP's shares fell 2.3% as the action marks the first such disruption at the Pilbara hub in 26 years. The world's largest bulk-export terminal handles hundreds of millions of tonnes of iron ore annually, with further talks set for July 21. Read →

BHP approved a $900 million investment in the Ministers North high-grade deposit southeast of Yandi as a satellite to the existing operation. The project will add 20 million tonnes per year of capacity once ramped up, supporting the company's 305 million tonne medium-term target, with first ore expected in FY29. Site works begin this month under a joint venture with Itochu and Mitsui. Read →

China imported 628.86 million tonnes of iron ore in the first half of 2026, up 6.3% year-on-year per GACC data. June imports reached 112.68 million tonnes, up 15.3% month-on-month and 6.4% year-on-year, as mills built stocks ahead of summer demand. Daily crude steel output at major mills fluctuated around 2.0-2.1 million tonnes during June. Read →

HBIS Resources Co. expects a net loss of RMB 115-145 million ($16.9-21.3 million) for the first half of 2026. The Hebei Province-based miner cited ongoing market conditions in its profit warning. The announcement highlights persistent pressure on Chinese steel-related operations amid weak domestic demand. Read →

BHP reported Western Australia iron ore output of 74.8 Mt in Q4 and full-year record 291.2 Mt on 100% basis, with average realised prices rising 3% to $84.56/wmt in FY26. The results came despite purchasing restrictions by China's state buyer amid contract talks. Higher prices and steady supply support the iron ore benchmark amid flat global steel demand. Read →

Rio Tinto achieved its highest Pilbara iron ore production since 2018 with Q2 sales up 7% YoY to 85.3 Mt. BHP reported record FY26 iron ore output of 265 Mt and guidance of 260-272 Mt for FY27. Strong operational delivery from both majors underscores resilient supply even as Chinese port inventories sit near 160 Mt and steel output remains subdued. Read →

The 62% Fe iron ore CFR China benchmark settled at $98.88 per tonne on July 15, up 0.6% weekly. SGX futures hovered near $100.55/t amid mixed signals from record miner output and steady Chinese port stocks. Prices reflect balanced supply against flat domestic steel demand and export-driven production. Read →

Rio Tinto sold 85.3 Mt of Pilbara iron ore in Q2, beating Visible Alpha consensus of 83.6 Mt and up 7% YoY; global sales reached 88.8 Mt (+5% YoY). First-half sales of 157.7 Mt leave the miner needing a strong H2 to meet full-year guidance. Higher diesel costs from Middle East tensions lifted the cost curve but Pilbara unit cash cost guidance held; shares rose on the beat. Read →

Hundreds of workers at BHP’s Port Hedland iron ore operations will stage an eight-hour stoppage on July 16 after six months of failed talks on a four-year labor deal. The action, the largest at BHP’s iron ore ops in decades, threatens disruption to $80M daily throughput. Unions and company had a scheduled meeting on July 14. Read →

Imported iron ore inventories at China’s 47 major ports fell 1.36 Mt (0.8%) to 173.26 Mt as of July 9, the second consecutive weekly decline but still 20.8% above year-ago levels. New arrivals dropped sharply to 25.88 Mt (-10.1% WoW) amid rising port congestion (125 vessels on July 9). Stocks remain elevated overall. Read →

SGX IODEX iron ore futures settled at $100.05/t (+1.58 or +1.60%) with the contract trading between $98.55-$100.35; prior settle was $98.47. The move aligns with recent physical price recovery and optimism around downstream Chinese demand signals. Read →

Dalian Commodity Exchange main iron ore contract I2609 settled at 744.5 yuan per ton, down 0.47%. Port spot prices fell 4-6 yuan per ton. Weak steel mill buying and softening demand weighed on the market. Read →

Finished steel inventories at major Chinese spot markets hit 9.35 million mt, up 21.6% year-on-year. Property sales fell 13.6%, curbing construction demand during seasonal slowdown. Elevated supply and sluggish end-user offtake keep prices under pressure into July. Read →

Benchmark iron ore price declined 0.42% to 98.31 USD per ton. The move extends a 3.56% monthly drop despite being 1.60% higher year-on-year. SGX and physical benchmarks tracked the DCE weakness. Read →

DCE iron ore futures fell below CNY 750 per ton as Chinese steel mills reported mounting losses from high coking coal costs and weak finished steel prices. Global shipments last week totaled 30.38 million tons, down 14% week-on-week. Planned blast furnace maintenance is expected to further cut near-term demand. Read →

Iron ore prices posted their strongest weekly gain since early May on the looming BHP Port Hedland strike and ongoing CMRG restrictions on Fortescue products. The rally occurred despite softening Chinese steel fundamentals and high port inventories. Market participants are watching for further supply disruptions from the July 16 action. Read →