Iron Ore Extends Decline Amid Rising Supply in Commodity News 21/05/2026 Iron ore futures fell toward CNY 790 per ton, reaching their lowest levels in about three weeks as increased shipments from Australia and Brazil added pressure to the market while Chinese steel mills continued to struggle with elevated inventories. Industry data showed that iron ore shipments from the two major exporters rose week-on-week, while portside stockpiles across 47 Chinese ports increased by 4.2 million tons. Supply is expected to climb further in the coming weeks, even as demand growth remains limited with blast furnace operations already running at relatively high utilization rates. Meanwhile, domestic steel demand in China continued to face headwinds from weak construction activity and broader economic uncertainty. Demand for Chinese steel exports also softened, as overseas buyers remained reluctant to purchase cargoes at elevated price levels. Source: Trading Economics 2026-05-21 hellenicshippingnews... tweet Share