Iron ore futures climbed above CNY 740 per ton, recovering from one-year lows after China’s state-backed buyer moved to restrict deliveries of certain Fortescue products to selected domestic steel mills, tightening supply in the world’s largest market for the steelmaking raw material. According to reports, the China Mineral Resources Group instructed mills and traders holding Fortescue’s Super Special Fines to take delivery before July 15, after which the blast furnace feedstock would be blacklisted. If enforced, the measure would mark a significant escalation in the dispute between the two sides, as negotiations over long-term supply contracts between the Australian miner and CMRG remain deadlocked. Meanwhile, iron ore prices had come under pressure in recent weeks due to ample global supply and weakening demand from the steel sector.

Iron Ore CNY rose to 740 CNY/T on July 2, 2026, up 0.96% from the previous day. Over the past month, Iron Ore CNY's price has fallen 5.13%, but it is still 0.20% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Iron Ore CNY reached an all time high of 1692 in April of 2026. This page includes a chart with historical data for Iron Ore CNY. Iron Ore CNY - data, forecasts, historical chart - was last updated on July 2 of 2026.

Iron Ore CNY rose to 740 CNY/T on July 2, 2026, up 0.96% from the previous day. Over the past month, Iron Ore CNY's price has fallen 5.13%, but it is still 0.20% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Iron Ore CNY is expected to trade at 769.99 CNY/T by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 792.66 in 12 months time.



Price Day Month Year Date
Iron Ore CNY 740.00 7.00 0.96% -5.13% 0.20% Jul/02
Lithium 162,500.00 2500 1.56% -4.69% 161.67% Jul/02
Platinum 1,628.20 28.30 1.77% -13.14% 18.48% Jul/02
HRC Steel 1,173.10 4.10 0.35% -1.50% 32.85% Jul/02
Iron Ore 98.36 -1.84 -1.84% -6.44% 3.40% Jul/01
Titanium 46.50 -1.00 -2.11% -4.12% -7.92% Jul/02


Iron Ore CNY
Iron ore is a rock or mineral from which metallic iron can be economically extracted. It is estimated that over 95% of mined iron ore is used to make steel through blast furnaces, which is essential for construction through steel rebars or manufacturing through sheets and coils. Major iron ore miners include Australia, China, Brazil, India, Russia, and South Africa.
Actual Previous Highest Lowest Dates Unit Frequency
740.00 733.00 1692.00 284.00 2013 - 2026 CNY/T daily

News Stream
Iron Ore Rebounds on China Supply Restrictions
Iron ore futures climbed above CNY 740 per ton, recovering from one-year lows after China’s state-backed buyer moved to restrict deliveries of certain Fortescue products to selected domestic steel mills, tightening supply in the world’s largest market for the steelmaking raw material. According to reports, the China Mineral Resources Group instructed mills and traders holding Fortescue’s Super Special Fines to take delivery before July 15, after which the blast furnace feedstock would be blacklisted. If enforced, the measure would mark a significant escalation in the dispute between the two sides, as negotiations over long-term supply contracts between the Australian miner and CMRG remain deadlocked. Meanwhile, iron ore prices had come under pressure in recent weeks due to ample global supply and weakening demand from the steel sector.
2026-07-02
Iron Ore Slides Toward 1-Year Low
Iron ore futures fell below CNY 740 per ton, drifting toward their lowest levels in nearly a year as new European Union trade restrictions on steel imports clouded the demand outlook. The European Commission introduced quotas under a new system to curb duty-free steel imports into the EU, aiming to protect the region’s steel industry and boost capacity utilization. Meanwhile, global supply remained abundant, while iron ore inventories at Chinese ports stayed near historically high levels. Steel demand from China’s construction sector also remained subdued, while manufacturing-related demand continued to soften, a trend that could persist for months. At the same time, net steel exports have been unable to match the robust levels recorded during the same period last year.
2026-07-01
Iron Ore Holds Near 1-Year Low
Iron ore futures held below CNY 750 per ton, hovering near their lowest levels in almost a year as narrowing profit margins for steel mills and seasonal demand weakness weighed on sentiment. Industry data showed profitability among Chinese steel mills dropped to about 51% in the latest week, down 4.8 percentage points from the previous week and 8.2 percentage points from a year earlier. The margin squeeze followed a fatal coal-mining accident in Shanxi last month, which drove up coke prices and encouraged mills to use more medium-to-high-grade iron ore to improve efficiency. Iron ore has also remained under pressure in recent weeks due to seasonally softer demand, increasing seaborne supply, and still-elevated inventories at Chinese ports, with stockpiles reaching a record level for this time of year at 160 million tons.
2026-06-26