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Iron ore prices retreated as sluggish demand from Chinese steelmakers and narrowing mill margins pressured sentiment across raw materials. Futures on the Dalian Commodity Exchange and Singapore Exchange fell amid signs of weaker steel consumption in construction and manufacturing.
Traders said mills have scaled back purchases due to low profitability and high inventories, while steel output controls in northern China also dampened appetite for fresh ore cargoes. Benchmark prices hovered below $95 per tonne, their lowest in several months, reflecting soft downstream activity and cautious restocking.
Market participants noted that seasonal demand slowdown, coupled with uncertain property-sector recovery, continues to weigh on Chinese steel output. Analysts said sentiment could stabilise only if infrastructure spending or policy stimulus strengthens in early 2026.
Despite the decline, iron ore remains supported by India and Southeast Asia’s demand, though global oversupply and muted margins are likely to cap any near-term rebound.
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