11:30 - 7.09.2026

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September 7, Fineko/abc.az. Iron ore prices crossed the $100-per-ton threshold for the first time in seven weeks, driven by short-covering and demand expectations in China. In Singapore, steelmaking ingredient futures rose as much as 1.6% to reach $101.10 per ton, marking the highest intraday level recorded since July 2.

Market analysts attribute the rally to Chinese steel mills replenishing raw material inventories ahead of the Golden Week holidays in October, alongside a seasonal rebound in construction activity. Rising dry bulk freight costs have provided additional cost-push support, with Singapore contracts trading up 1.1% at $100.65 per ton in late morning sessions.