en.Wedoany.com Reported - Indian iron ore export prices remained largely stable this week, as weakening global iron ore prices and subdued trading activity continued to weigh on market sentiment.
BigMint's bi-weekly export index for Indian low-grade iron ore fines (Fe 57%) showed a week-on-week decline of $1/t to $53.5/t FOB east coast (approximately $69/t CFR China) on June 11, 2026. During this publishing window, BigMint recorded two transactions for Fe 57% grade, but these were not included in the price calculation, resulting in a T1 transaction weight of 0% in the index calculation. BigMint received a total of 20 indicative prices, of which 12 were used as T2 inputs for price calculation, accounting for the remaining 100% weight. Approximately 250,000 tonnes of iron ore fines export transactions were concluded during this window.
This week, the discount assessment for Indian Fe 57% fines was approximately 24-27%, while discounts for lower-grade Fe 55% fines were heard in the range of 30-32%. As of June 10, 2026, total iron ore and pellet inventory at 34 major Chinese ports stood at 158 million tonnes, up 1 million tonnes week-on-week from June 3.
Market participants noted limited buying interest from seaborne market buyers, with exporters reporting that overseas buyers mainly inquired about cargoes from single mines, showing tepid response to trader-held stocks. Although some suppliers maintained stable offer levels, the lack of active buying pressure weighed on export prices. Several transactions for east coast iron ore fines were concluded at discounts of around 24% to mainstream benchmark prices, highlighting weak demand in the seaborne market.
One exporter said the upcoming monsoon season is adding extra pressure to the market. During the rainy season, higher moisture content in yard and port stocks may affect cargo quality and handling efficiency, prompting sellers to clear inventories before weather-related disruptions intensify. An international trader noted that demand for Indian iron ore fines from China remains sluggish. Due to rising coking coal prices, Chinese steel mills currently prefer higher-grade iron ore products to maximize blast furnace efficiency and reduce overall steelmaking costs.
Market participants further indicated that several miners had completed substantial export sales in May and are now focused on executing previously contracted shipments, resulting in relatively limited new spot market activity. Despite the current weakness, some exporters believe that if seaborne freight rates continue to soften, FOB prices may see modest support in the coming weeks, as lower freight costs help improve the competitiveness of Indian iron ore cargoes in key export destinations.
Chinese iron ore fines prices fell week-on-week. On June 10, the benchmark iron ore fines Fe 61% index declined by $1/dmt week-on-week to $102/dmt CFR China. Weak construction activity and subdued end-user steel consumption pressured finished steel prices, while declining steel mill profitability dampened expectations for iron ore demand. Market sentiment remained cautious amid seasonal demand weakness and expectations of increased seaborne supply, particularly from the ramp-up of the Simandou iron ore project.
Dalian Commodity Exchange (DCE) iron ore futures fell week-on-week. On June 11, DCE iron ore futures for the September 2026 contract declined by CNY 7/t (approximately $1/t) week-on-week to CNY 766/t ($113/t).
BigMint expects Indian iron ore export prices to remain near current levels, as weak Chinese demand, seasonal challenges, and cautious procurement sentiment will continue to dominate the market.
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