Iron Ore Price in China Falls 0.7% to USD 102.83/tonne

Iron ore in China was quoted at USD 102.83/tonne as of 2026-10-02, down 0.7% from USD 103.59/tonne on 2026-09-25. The price is down 3.3% over the month from USD 106.34/tonne on 2026-09-02 and 2.2% over the quarter from USD 105.14/tonne on 2026-07-03. On a yearly basis the price is 7.6% lower, from USD 111.27/tonne on 2025-10-02.

The 52-week range runs from a low of USD 100.59/tonne on 2026-08-04 to a high of USD 120.83/tonne on 2026-01-12.

Demand-side data from Shanghai Metals Market show blast furnace maintenance affected 1.5267 million mt of hot metal output, in a report dated 2026-09-25. Daily average hot metal output across 242 mills fell to 2.3882 million mt, according to Shanghai Metals Market on 2026-09-30. Shanghai Metals Market also reported that C3 Brazil-China freight rates declined from 43.06 to 40.26 USD/mt on 2026-09-30, a component of seaborne delivered cost for material flowing to China.

On the supply side, Reuters reported on 2026-08-06 that China Mineral Resources Group directed steel mills to halt purchase negotiations with Rio Tinto. Bloomberg reported on 2026-09-08 that the group instructed steel mills to pause Pilbara Blend purchases from Rio Tinto.