Iron ore price on Oct 27 surges to 2-week high on strong China data & improved market sentiment
Time:Wed, 29 Oct 2025 08:10:26 +0800
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On October 27, Australia's iron ore price hiked by US$1.45 and reached US$105.45, which not only rebounded to above US$105 but also hit its highest level since October 15. China’s industrial profits rose by 21.6% year-on-year in September, reaching a new high in nearly two years. The improvement, along with a framework trade agreement reached between China and the US, boosted confidence in the market and drove up China’s spot steel prices. At the same time, the second round of coke price hikes took effect, steel inventories declined further last week, and demand showed slight improvement, all contributing to the sharp rise in iron ore prices.
Although China’s crude steel output fell year on year in September, steel product output increased, providing additional support to ore prices. However, steelmakers’ profit margins narrowed, and hot metal output continues to fall. In addition, Tangshan imposed production restrictions from October 27 to 31 due to environmental measures. The market expects iron ore prices to remain volatile in the short term.
