Steel & Raw Materials Market Brief
Market Snapshot
| Commodity | Latest Price | Daily Change | Market Sentiment |
|---|---|---|---|
| Iron Ore 61% CFR China | $93.20 / t | ▼ 0.50 | Bearish |
| Iron Ore 65% CFR China | $110.25 / t | ▼ 0.50 | Weak |
| Pellet Premium | $15.30 / t | ▲ 0.10 | Improving |
| DR Pellet Premium | $50.00 / t | — | Stable |
| Pellet Feed (67%) | $123.90 / t | ▼ 0.10 | Stable |
| HMS 80:20 Turkey | $376 / t | ▼ 1.00 | Soft |
| Met Coke FOB Indonesia | $283 / t | ▲ 1.00 | Firm |
| Freight Australia–China | $15.00 / t | ▲ 0.65 | Rising |
Key Market Developments
Iron Ore
Iron ore prices softened as trading activity slowed after recent volatility in futures markets. Despite the weaker sentiment, demand from Chinese buyers has started to improve at current price levels, suggesting that the market may be approaching short-term support.
Pellets
The pellet market remained relatively resilient. Premiums continued to edge higher, supported by stable demand for higher-grade feedstock, while DR-grade pellet premiums remained unchanged.
Scrap & Steelmaking Raw Materials
Turkish imported scrap declined slightly as buyers continued to negotiate lower prices. Metallurgical coke remained broadly stable, although oversupply continues to limit further price increases.
Freight
Ocean freight rates increased on all major iron ore routes due to typhoon-related vessel delays, adding additional cost pressure for importers.
Key Industry News
- Labor negotiations at Port Hedland have progressed, but planned strike action is still expected this week, creating potential supply chain risks. Supply Risk
- Turkey increased iron ore imports significantly during the first half of 2026, reflecting stronger steel production. Demand
- India is preparing for the EU CBAM mechanism by increasing low-carbon steel production and improving emissions reporting. Policy
- Coking coal prices weakened further because of abundant supply and cautious buying activity. Market
- Typhoon-related vessel delays are pushing ocean freight rates higher across all major iron ore routes. Freight
Market Outlook
| Factor | Impact |
|---|---|
| Iron ore demand | Improving gradually |
| Supply risk | Moderate (Port Hedland strike) |
| Freight | Bullish |
| Coking coal | Bearish |
| Pellet market | Stable to Positive |
| Overall steel raw materials | Neutral with higher volatility |