China: Iron ore spot prices edge up despite thin trading
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- Outlook remains cautious despite favourable prices
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- Limited port inventories lend mild support to prices
Iron ore fines (Fe 61%) spot prices gained marginally by $0.2/dmt to $98.9/dmt CFR China on 29 June 2026. The market witnessed limited price movement as trading activity remained thin amid an uncertain near-term outlook.
Despite favourable fixed-pricing conditions, overall sentiment stayed cautious due to continued weakness in downstream steel demand. As per reports, mills were also closely monitoring ongoing discussions between CMRG and an Australian miner, as monthly discounts for Australian cargoes are expected to be announced soon.
Limited port inventories and weak steel mill margins supported the slight uptick in prices.
Meanwhile, sentiment across the ferrous complex improved after coking coal prices rose on concerns over potential supply disruptions from Mongolia, providing some support to the iron ore market.
DCE iron ore futures: Iron ore futures on the Dalian Commodity Exchange (DCE) for the September 2026 contract stood largely stable at RMB 747/t ($110/t) on 30 June.
