Industry News

Iron-ore gains as freight costs rise amid Iran war; shipments fall

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Update time : 2026-03-03 15:26:42

The most traded iron-ore contract on China's Dalian Commodity Exchange (DCE) closed daytime trade 0.87% higher at 754.5 yuan ($109.64) a metric ton.

The benchmark April iron-ore SZZFJ6 on the Singapore Exchange rose 0.85% to $99.2 a ton as of 0731 GMT.

Surging oil prices amid the US-Iran conflict lifted freight costs, thus lending some support to iron-ore prices, Zhengxin Futures analysts said in a note.

Helping prices of the key steelmaking ingredient was also a fall in shipments from top suppliers Australia and Brazil, which were down 0.8% week-on-week, according to analysts and data from consultancy Mysteel.

Earlier in the session,-ore prices fell due to production curbs in China's key steel hub Tangshan, after a forecast of worsening air quality activated the level-two emergency response from Sunday.

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