STEEL MARKET UPDATE

Advisory Bazaar Info Services

Iron Ore Futures Remain Stable

Iron ore futures remained broadly stable, with the January contract on the Dalian Commodity Exchange (DCE) at 725 yuan ($107.88) per metric ton, while the September benchmark on the Singapore Exchange (SGX) was flat at $99.60 per ton.

Global Shipments Rise, Chinese Port Arrivals Decline

Global iron ore shipments increased by 2.73 million tons week-on-week to 35.72 million tons during August 24–30. However, iron ore arrivals at 47 major Chinese ports declined by 7.66 million tons to 19.52 million tons.

The decline in domestic port arrivals has resulted in a short-term contraction in available supply, providing some support to iron ore prices.

Global Production Expected to Increase

Global iron ore production growth is expected to accelerate to around 2.2% annually during 2026–2030, with total output projected to reach approximately 3,037 million tons by 2030.

China Manufacturing Activity Expands

China’s manufacturing sector showed further improvement, with the official manufacturing PMI rising to 51.5 in August, indicating expansion in manufacturing activity.

Steelmaking Raw Materials Show Mixed Trend

Other steelmaking ingredients traded mixed. Coking coal gained 0.56%, while coke declined 0.25%.

Meanwhile, major steel benchmarks on the Shanghai Futures Exchange (SHFE) recorded declines across various steel products.

Market Outlook

Near-term iron ore prices may continue to receive support from lower Chinese port arrivals and tighter short-term domestic supply. However, expectations of rising global production and weakness across steel futures could limit the upside.

Advisory Bazaar Info Services

Market Intelligence | Commodities | Metals & Steel