Iron ore hits 10-month high on China's stimulus
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Update time : 2026-01-12 14:13:55
The price of 62% Fe grade iron ore fines from Australia delivered to China surged to US$109/ton yesterday (January 7), reaching the highest level in over ten months. This US$2.45 daily increase follows the Chinese central bank's plan to use interest rate and reserve requirement cuts to provide ample market liquidity in 2026.
Investor confidence pushed steel and coal futures to their daily limits, further driving the iron ore growth. Prices have now risen by 5.13% since mid-December last year.
Although winter weather typically slows construction in China, steel mills are actively rebuilding inventories to get ahead of rising costs. Besides, the recent price hikes in copper and aluminum are adding upward support to the entire metals market.
