27.03.202605:52:47UTC+00Iron Ore Slips as Supply Concerns Ease

Iron ore futures slipped toward CNY 810 per ton and were on track to finish the week largely unchanged, as Tropical Cyclone Narelle caused only limited disruption at ports in Australia’s Pilbara region. In China, the key steelmaking city of Tangshan activated a level-two emergency response to severe air pollution, heightening concerns over possible production restrictions and stricter environmental inspections. At the annual parliamentary sessions in Beijing earlier this month, policymakers reiterated their determination to cut excess capacity in the steel industry amid softening demand. At the same time, supply disruptions and higher freight rates linked to the conflict in the Middle East continued to embed a risk premium in prices. Separately, inventories of BHP’s Jimblebar fines at several Chinese ports fell to nearly a two-month low, as steelmakers stepped up shipments during a brief, one-week relaxation of the import ban.