China Steel Output Declines, Iron Ore Prices Fall
Iron ore futures on Dalian and Singapore dropped sharply as China’s blast furnace production fell for five consecutive weeks, lowering utilization to 88.6% and daily hot metal output to 2.36 million tons. Port stockpiles rose to 135.6 million tons, and inventories are expected to swell further in November, signalling a weakening steel sector.
Iron ore futures on Dalian and Singapore dropped sharply as China’s blast furnace production fell for five consecutive weeks, lowering utilization to 88.6% and daily hot metal output to 2.36 million tons. Port stockpiles rose to 135.6 million tons, and inventories are expected to swell further in November, signalling a weakening steel sector.
Short‑term, iron ore and steel prices are likely to stay pressured as demand weakens and inventories climb. Traders may see tighter margins for miners and steelmakers, and a potential shift in global supply‑chain dynamics as China trims output below 1 billion tons in 2025.