Chinese influence on iron ore prices: Demand and shipments decreased

Iron ore futures contracts in China fell 2.50 yuan to 681.50 yuan per ton. The daily decrease was 0.37 percent, the monthly loss was 0.22 percent, and the annual loss was 11.26 percent. According to forecasts, the price is expected to complete the last quarter of 2026 at 681.73 yuan.

PRODUCTION RESTRICTIONS IN HEBEI SPRESS DEMAND

Measures to reduce air pollution are being implemented in Hebei, one of China's important steel production regions, during the autumn and winter months. In industrial centers such as Tangshan and Handan, the activities of sintering plants and blast furnaces are disrupted from time to time due to adverse weather conditions.

The emergence of more comprehensive production restrictions strengthens the expectation that iron ore demand may decrease. The decline in average liquid crude iron production in China also supports this outlook.

GLOBAL SHIPMENTS DECREASED TO 29.91 MILLION TONS

Global iron ore shipments decreased by 5.57 million tonnes to 29.91 million tonnes in the week ending November 8.

The total shipment of the world's leading exporters, Australia and Brazil, decreased by 3.84 million tons and was recorded as 24.06 million tons.

DIFFERENT COURSE IN OTHER COMMODITY PRICES

The price of iron ore in dollar terms decreased by 0.18 percent to $92.54. The annual loss was 10.64 percent.

Different movements were seen in other commodities. While lithium decreased by 0.88 percent to 90 thousand 450, platinum increased by 2.06 percent to 1,570.10. Hot rolled coil steel increased by 0.21 percent to 1,417. Titanium remained stable at 41 levels.

While the annual increase in hot rolled coil steel reached 66.31 percent, the monthly loss of lithium was 21.62 percent.

More than 95 percent of the iron ore mined worldwide is used in steel production. The main producers of iron ore, which is an important raw material for the construction and industrial sectors, are Australia, China, Brazil, India, Russia and South Africa.