China: Iron ore spot prices held firm d-o-d

• Higher mill utilisation boosts demand expectations
  
  
• Australian supply disruption concerns support market mood
  
  

Iron ore fines (Fe 61%) spot prices remained largely stable at $101.5/dmt CFR China d-o-d on 12 June 2026 against 11 June.

Prices continued to find support from improved sentiment across the ferrous complex, following gains in China's steel futures and spot markets. Slightly higher blast furnace utilisation rates at Chinese mills also supported iron ore demand expectations. In addition, trading activity improved across both seaborne and portside markets compared to 11 June.

Concerns over possible supply disruptions from Australia further underpinned the market after workers at Port Hedland voted in favour of strike action following failed labour negotiations with a mining firm. Although no strike has commenced yet, the market remained watchful due to the port's importance in global iron ore exports. However, rising iron ore port inventories in China continued to limit further price gains.

DCE iron ore futures: Iron ore futures on the Dalian Commodity Exchange (DCE) for the September 2026 contract remained largely stable at RMB 765/t ($113/t) on 12 June.