Iron Ore Heads for Monthly Loss in Commodity News 29/05/2026 Iron ore futures steadied above CNY 780 per ton but remained on track for a monthly decline as abundant global supply continued to outpace weakening demand conditions. Industry data showed shipments from Australia and Brazil hovering near a two-year high, while iron ore inventories at Chinese ports stayed elevated. On the demand side, the latest figures showed blast furnace operating rates in China were unchanged from the previous week, while profitability among steel mills slipped to 62.3%. Meanwhile, a deadly accident at a steelmaking coal mine in China’s Shanxi province is expected to disrupt output in the near term, potentially increasing costs for steel producers, power generators and chemicals manufacturers. Separately, electrical workers at BHP’s Port Hedland bulk export terminal in Western Australia threatened to launch strike action before the end of the financial year on June 30, adding to concerns over potential supply disruptions. Source: Trading Economics 2026-05-29 hellenicshippingnews... tweet Share