…tropical storm 25U fading before Pilbara, iron ore prices are retracing as Chinese port inventories edge towards records ahead of Lunar New Year.
Stocks rose +0.9% WoW to 160.9Mt (+9.1% YoY), just -1.1Mt below the 162.0Mt May’18 peak. SGX active has held sub-100$/t and slid to 95.5$/t today, down -12.7% from the Jan’26 high as steel output cuts signal thin margins while seaborne supply stays loose.
With China’s domestic mines increasingly uneconomic, import reliance and port inventories should keep rising.
For further insights, contact [email protected].