en.Wedoany.com Reported - On July 13, 2026, the spot price of iron ore fines (Fe 61%) in North China fell by $0.95/dry metric ton week on week to $98.10/dry metric ton CFR North China. The decline was mainly driven by weakened buying interest and ongoing market caution over negotiations between Australian miners and China Mineral Resources Group (CMRG).

This pullback was primarily fueled by weak demand. With the July 15 delivery deadline approaching, most buyers adopted a wait-and-see stance. Trading activity slowed notably early in the week, and limited progress in ongoing negotiations prompted steel mills and traders to postpone new purchases, awaiting greater price clarity.

The negotiations dampened spot buying appetite, with most consumers preferring to rely on existing inventories rather than procuring new cargoes. Cautious sentiment also curbed overall liquidity in the seaborne market, and despite lower prices, trading volumes remained constrained. As a result, iron ore procurement was mainly focused on meeting immediate production needs rather than restocking.

Downside price risks were limited amid relatively tight lump ore inventories at Chinese ports, providing support for certain grades. Meanwhile, iron ore futures for the September 2026 contract on the Dalian Commodity Exchange (DCE) edged up to 750.5 yuan/mt on July 13.