The benchmark CME 62% Fe iron ore price, widely used as a global reference, declined from $101.73/mt on June 5 to $100.27/mt on June 8, marking a 1.4% decrease or a drop of $1.46/mt.
In the United States and Australia, prices for 62% Fe iron ore fell from $101.65/mt to $98.15/mt, representing a 3.4% decline or $3.50/mt. In contrast, prices in Japan, Vietnam, and Indonesia increased by 1%, rising from $101/mt to $102/mt during the same period.
A notable increase was recorded in Brazil, where 65% Fe iron ore climbed from $115.18/mt on June 5 to $118.90/mt on June 8, representing a 3.2% increase or $3.72/mt.
Meanwhile, China’s 62% Fe iron ore price remained unchanged at $111/mt. Prices were also stable in India, where 62% Fe iron ore held at $109/mt, and in South Korea, where 61% Fe iron ore remained at $101/mt. In South Africa, both 64% Fe and 63/64% Fe iron ore prices moved sideways at $127/mt and $126.50/mt, respectively.
The latest data as of June 8 indicate that the global iron ore market remained broadly balanced. While high-grade iron ore products continued to show strength, some benchmark products experienced limited downward corrections.
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