en.Wedoany.com Reported - On June 30, the spot price of China's 61% Fe iron ore fines (CFR China) edged up by 0.1 USD/dmt day-on-day to 98.9 USD/dmt. Prices fluctuated within a range, supported on one hand by improved market sentiment as China's manufacturing PMI returned to expansion territory, and on the other hand by declining shipments from Australia and Brazil. However, seasonal weakness in steel demand remains the main factor constraining significant price increases.

Market trading was generally subdued, with transactions concentrated on mainstream fines grades. Buyers adopted a wait-and-see approach for medium-grade fines, as expectations of a rise in coke prices could further increase steel mills' costs.

The supply-side situation provided support to prices, with shipments from Australia and Brazil declining for three consecutive weeks, tightening seaborne supply to some extent.

Meanwhile, the Chinese market is entering a seasonal consumption lull. Rising temperatures in the southern regions and persistent rainfall are expected to affect construction activities, putting pressure on steel consumption and production in the short term.

In the futures market, the iron ore price for the September 2026 contract on the Dalian Commodity Exchange (DCE) fell by 3.5 CNY/t on July 1, closing at 743.5 CNY/t (approximately 110 USD/t).