Iron ore futures declined on Monday as falling steel production reinforced a weak demand outlook.
According to the China Iron and Steel Association (CISA), daily crude steel output among its member mills fell 6.4% in the last ten days of November to 1.82 mln tons per day compared with the preceding ten-day period, and was down 13.1% YoY.
Analysts noted that the seasonal slowdown in steel demand has prompted many mills to bring forward maintenance, further reducing output and weighing on iron ore consumption.
China’s top policymaking body pledged stronger support for domestic demand and a more proactive fiscal stance in 2026, but the absence of major near-term stimulus failed to lift commodity sentiment. Rising global iron ore supply and elevated port inventories added additional pressure on prices.
On the Dalian Commodity Exchange, the most-traded May iron ore contract fell 1.43pct to 760.5 yuan (USD 107.5) per ton. Coking coal dropped 6.14pct to 1,093.5 yuan (USD 155), while coke slid 5.79pct to 1,537 yuan (USD 217) a ton.
On the Shanghai Futures Exchange, rebar declined 1.3pct to 3,123 yuan (USD 442), HRC fell 1.02pct to 3,291 yuan (USD 466), and wire rod dropped 1.47pct to 3,410 yuan (USD 482). Stainless steel inched up to 12,510 yuan (USD 1,770) per ton.
1 USD / 7.07 yuan
