en.Wedoany.com Reported - The spot price of iron ore fines (Fe 61%) fell by $2.25/dry metric ton (DMT) on June 4, 2026, compared to June 3, to $101.1/DMT (CFR China).

Market sentiment remained weak. High coke prices continue to squeeze steel mill margins, limiting raw material procurement. Meanwhile, miners accelerated shipments ahead of the end of the Australian fiscal year, while traders actively liquidated inventories in a falling market, further intensifying downward price pressure.

This decline also reflects weakening expectations for China's steel demand. As China gradually enters the traditional off-season for construction, steel consumption remains sluggish, with slowing procurement in the real estate and infrastructure sectors, dampening interest in iron ore purchases.

Additionally, expectations of increased iron ore supply added pressure. Exports from Guinea's Simandou project rose, with a significant increase in May shipments, nearly six months after the first cargo arrived in China. The project is expected to become a major new source of high-grade iron ore, heightening concerns that the global supply-demand balance will loosen in the coming months.

Iron ore futures for the September 2026 contract on the Dalian Commodity Exchange (DCE) fell by 10 yuan/ton ($1.5/ton) on June 5, to 763.5 yuan/ton ($112/ton).

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