The iron ore market in China showed composite price stability alongside varying brand performances on October 9, 2026, after reopening. The DCE iron ore price, as the most traded contract, reached 682.5 yuan per ton, while port indices for iron ore with grades of 61%, 58%, and 65% were reported at 664, 627, and 828 yuan per ton, respectively.
Price Fluctuations and Brand Performance
Spot prices did not stabilize uniformly; while Mac Fines and BRBF prices decreased, Carajas Fines and PB Lump iron ore improved. Additionally, the maritime index for iron ore with a grade of 61% decreased to $89.20 per ton, and the 65% grade also fell to $109.40. This increase in price difference indicates a gap of $20.20 and reveals short-term differences between various grades of iron ore.
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Restrictions and Market Impacts
The domestic composite iron ore index has decreased to 821.58 yuan per ton, indicating restrictions in factory purchase pricing. Transportation costs also experienced varying fluctuations; C3 costs decreased while C5 costs increased. The impacts of these fluctuations on miners' profit margins and final prices depend on contracts, travel times, and exchange rates, and uniform movements are not observed across all routes.
The transition from temporary stability to ongoing support still depends on factory purchases and profitability. Pressure on final steel prices and limited purchases to immediate needs may hinder market improvement amid relatively high transportation costs. Conversely, improved profit margins resulting from decreased coke costs and subsequently sustainable inventory recovery could enhance support. Attention to trade sustainability and short-term purchases should remain a priority to ensure a more precise analysis rather than considering increases in individual brand prices as a shift in the overall market trend.
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