Prices were also supported by restocking before next month’s Lunar New Year break, according to Liz Gao, iron ore analyst at CRU. “Supply is robust now, but there are risks of disruptions for iron ore in the next few weeks due to seasonal weather. So there is potential that prices could go even higher.”
Iron ore ended 2025 with a modest gain, despite concerns about rising production from top miners, as well as indications of slowing steel output in China. Among signs of ample supplies, port inventories in the largest importer of the commodity have risen to the highest since late 2024.
Still, many raw materials — including base metals — have posted strong gains at the start of 2026. Among them, copper has rallied to a record.
Iron ore gained as much as 1.7% to US$108.40 a ton in Singapore, and traded at US$108.35 at 12:07pm local time, while Dalian contracts were up 2.8%.
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