FX.co ★ Iron Ore Slips as Commodities Retreat

Iron ore futures dipped below CNY 820 per ton, retreating from their peak levels over the past 11 months. This decline mirrored a broader downturn in commodity markets as investors responded to recent geopolitical and trade dynamics. In particular, U.S. President Donald Trump refrained from enacting new tariffs on vital mineral imports and hinted that there was no immediate necessity for military intervention in Iran after the reported cessation of protester executions. Additionally, in an industrial alliance, Australia's BHP Group and Rio Tinto have pledged collaboration in the Pilbara region to yield up to 200 million tons of iron ore, crucial for steel production, from the next decade onwards. Meanwhile, recently released data indicated that China recorded unprecedented levels of iron ore imports in December and throughout 2025. This spike stemmed from diminished stockpiles, enhanced steel profit margins, and restocking activities ahead of February's Lunar New Year celebrations. Moreover, China achieved a new high in steel exports last month, as traders accelerated shipments in anticipation of Beijing's upcoming export license requirements slated for 2026.