FX.co ★ Iron Ore Falls on Signs of Ample Supply

Iron ore futures fell toward CNY 740 per ton, hovering near three-week lows as signs of ample global supply continued to weigh on prices. Imported iron ore inventories at Chinese ports remained elevated, while stockpiles at Chinese steel mills increased by 8% last week.

On the supply side, data showed that Western Australia’s Pilbara Ports, the world’s largest iron ore export hub, handled more than 800 million tons of cargo in the 2025–2026 financial year. Iron ore shipments accounted for about 759.4 million tons, surpassing the previous record of 775.7 million tons set in 2024–2025. Over the same period, Port Hedland processed 580.4 million tons of cargo, while Dampier handled 178.3 million tons.

On the demand side, investors are awaiting the outcome of the Politburo meeting in Beijing for potential stimulus measures that could help shore up the Chinese economy and, in turn, support iron ore demand.