Spot offers exceeded $104/t amid the lifting of restrictions in China, although high inventories and oversupply are weighing on the market.

In early September 2025, the iron ore market showed moderate growth after an unstable end to August. Despite significant fluctuations during the first seven days of the month, the overall trend was positive: January futures on the Dalian Commodity Exchange (DCE) rose 0.3% to $110.44/t, while at the beginning of the period, quotes started at $107/t. On the Singapore Exchange, October contracts rose 1.4% to $104.95/t.