On September 8, Australia's iron ore (62% Fe, CFR China) price increased by US$0.9 to US$105.25. The price surged to a new six-and-a-half-month high since February 28, and for the first time in half a year, climbed back above the US$105 mark. Following yesterday’s increase, iron ore has risen by a total of US$2.45 this month, a gain of 2.38%. Since the start of this year, it has accumulated an increase of US$4.65, with the growth rate expanding to 4.6%. Last week alone, it rose by US$1.55, an increase of 1.5%.

China’s iron ore imports in August surged to more than 105 million tons, marking the second-largest monthly volume this year and the second time in 2025 that imports exceeded the 105 million ton level. The data highlights continued strong demand for iron ore. Despite the difficulty in current steel prices, the rebound in ferrous futures supported gains in iron ore prices.

According to market participants, China’s steel demand since the start of September has been weaker than anticipated. However, expectations remain for steel prices to improve during the peak season. The market outlook suggests an initial period of pressure followed by a potential rebound, with iron ore prices likely to experience high-level fluctuations in the short term.