Australia Discovered a Giant Iron Ore Deposit Worth $6 Trillion

The trend of iron ore futures today first declined and then rebounded, with the market remaining stable in the afternoon. The main contract, I2605, eventually closed at 784 RMB/ton, up 0.26% from the previous trading session.

[SMM Steel] According to provisional data from the Ministry of Steel, India became a net exporter of finished steel during the first 11 months of FY 2025-26 (April–February). Total exports reached 6.02 million mt (up 36% YoY), while imports fell to 5.6 million mt (down 37% YoY). Crude steel production rose 11% to 153.61 million mt, outpacing a 7.2% growth in consumption, which totaled 147.7 million mt.

[Domestic Iron Ore Brief Commentary: Iron Ore Concentrates Prices in the Tangshan Area May Have Some Room to Move Higher] The Tangshan domestic ore market saw a wait-and-see stance in supply and demand, with environmental protection-related controls constraining beneficiation production; overall iron ore concentrates resources were relatively tight, and beneficiation plants holding cargo showed strong bullish sentiment. The local delivery-to-factory price, tax included, for 66 grade iron ore concentrates (dry basis) was 970-980 yuan/mt. Steel mills, recently affected by production restrictions, saw a noticeable phased decline in overall hot metal, but it is expected to gradually return to normal next week, so demand support for iron ore concentrates remains. In addition, the recent trend in iron ore futures prices