Iron ore futures extended losses on Thursday, falling to their lowest level since early July 2025 as rising port arrivals, mounting inventories and weak seasonal steel demand reinforced bearish market sentiment.
Market insiders said iron ore fundamentals have weakened further as supply continues to outpace demand. Increased arrivals from major exporters, coupled with rising port inventories and lower steel output during the seasonal demand slowdown, have added further downward pressure on prices.
Chinese traders said the domestic steel market remained sluggish, with demand failing to improve during the traditional summer off-season. Domestic steel inventories continued to rise, while export offers also eased on Thursday amid limited overseas buying.
Investors also continued to unwind long positions ahead of the September futures contract delivery period, adding further selling pressure as weak spot market conditions weighed on sentiment.
On the Dalian Commodity Exchange, the most-traded September iron ore contract fell 3.31pct to 715 yuan (USD 105.8) per ton, its lowest level since early July 2025. Coking coal futures declined 1.41pct to 1,227 yuan (USD 182) per ton, while coke futures dropped 1.01pct to 1,821 yuan (USD 269) per ton.
On the Shanghai Futures Exchange, rebar futures fell 1.73pct to 3,014 yuan (USD 446) per ton, HRC futures lost 1.46pct to 3,240 yuan (USD 479) per ton, while wire rod futures were unchanged at 3,275 yuan (USD 484) per ton. Stainless steel futures bucked the trend, edging 0.31pct higher to 14,560 yuan (USD 2,154) per ton.
1 USD / 6.75 yuan
| Item | Closing Price (in yuan) | Difference from Night Session (pct) | Difference from Previous Morning Session (pct) |
|---|---|---|---|
| Wire Rod | 3,275.00 | 0.00 | ▲ 0.15 |
| Hot Rolled Coils | 3,240.00 | ▼ -1.46 | ▼ -1.42 |
| Rebar | 3,014.00 | ▼ -1.73 | ▼ -1.59 |
| Stainless Steel | 14,560.00 | ▲ 0.31 | ▲ 0.10 |
| Iron ore | 715.00 | ▼ -3.31 | ▼ -3.36 |
| Coke | 1,821.00 | ▼ -1.01 | ▼ -1.32 |
| Coking Coal | 1,227.00 | ▼ -1.41 | ▼ -1.71 |