9,915.62 TRY BIST 100 BIST 100
4.51 CNY CNY CNY
34.89 EUR EUR EUR
32.51 USD USD USD
0.13 CNY CNY/EUR CNY/EUR
44.70 TRY Interest Interest
89.50 USD Fossil Oil Fossil Oil
27.20 USD Silver Silver
4.58 USD Copper Copper
119.16 USD Iron Ore Iron Ore
386.00 USD Ship Dismantling Ship Dismantling
2,438.11 TRY Gold (gr) Gold (gr)

Iron ore prices have dropped

On Friday, iron ore prices have fallen on the impact of weak demand in the short term and higher-than-expected stockbuilds at ports in China.

Iron ore prices have dropped

The most-traded iron ore on China's Dalian Commodity Exchange (DCE) dropped 1.38% on the day to 1,000 yuan ($139.56) per tonne. It ended the week up close to 3%.

February index benchmark iron ore on the Singapore Exchange fell 0.2% to $138.5 a tonne during the week.

The average daily hot metal production between mills fell 1.4% to 2.18 million tons on Friday. As a result, this represents a 1.2% decline compared to the same period a year earlier.

Relatively high ore prices are causing some plants to take a cautious posture and tend not to place orders at the moment in anticipation of lower prices in January and February, according to analysis.

Port iron ore stocks increased by 2.1% on the week to 122.45 million tons as of January 5, the highest level since August 2023.

The other steelmaking components also decreased, with coking coal down 4.15% and coke down 3.52%.

Steel indicators on the Shanghai Futures Exchange also dropped. Rebar was down 1.39%, hot rolled coil 1.71%, wire rod 1.76% and stainless steel 2.19%.

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