MMi Daily Iron Ore Report (October 7)

Mineral Resources' Onslow iron ore ocean shipments reached 9.22 million tonnes for the quarter. The operations notably ran above the project's 35 million tonnes per annum nameplate capacity, contributing to a strong overall hub performance [SMM Iron Ore]

Australian miner Mineral Resources successfully completed major construction at its Lamb Creek iron ore project on October 6, 2026. The new open-pit mine is designed with an annual extraction capacity of 7.00 million tonnes, specifically engineered to extend the company's Pilbara Hub production profile by more than five years. The rapid capacity addition directly bolsters high-grade seaborne supply amidst broader macroeconomic pressures weighing on global iron ore prices. [SMM Iron Ore]

The American Iron and Steel Institute reported that US domestic raw steel production fell to 1.801 million net tons for the week ending October 3, 2026, marking a 2.4% week-on-week decrease. The national mill capacity utilization rate simultaneously dropped to 78.3%, down from 80.5% the prior week. Despite the weekly contraction, adjusted year-to-date production remains robust at 71.967 million net tons, representing a 5.3% volumetric increase over the 68.362 million net tons recorded during the same period last year. [SMM Iron Ore]