Australia's iron ore (62% Fe, CFR China) price on September 16 slightly increased by US$0.65 and closed at US$105.8. After the iron ore price rebounded yesterday, it has risen a total of US$3 since September, or 2.9%. So far this year, the commodity has gained US$5.2, up by 5.17%. Since September 8, prices have remained above US$105.

Despite new production curbs in Tangshan, which could dampen demand, China’s ferrous futures market strengthened, while spot steel prices climbed for three straight days. Key steelmakers also reported higher crude steel output in early September, averaging 2.087 million tons per day, a 7.2% increase from the previous period, supporting iron ore’s rebound.

Market participants highlighted a favorable macro outlook. Expectations of a US interest rate cut and possible additional Chinese policy measures offset weak industrial output and property data. Analysts expect short-term iron ore prices to fluctuate at high levels, with future trends tied to China’s actual demand.