Iron Ore Slides Toward 1-Year Low in Commodity News 01/07/2026 Iron ore futures fell below CNY 740 per ton, drifting toward their lowest levels in nearly a year as new European Union trade restrictions on steel imports clouded the demand outlook. The European Commission introduced quotas under a new system to curb duty-free steel imports into the EU, aiming to protect the region’s steel industry and boost capacity utilization. Meanwhile, global supply remained abundant, while iron ore inventories at Chinese ports stayed near historically high levels. Steel demand from China’s construction sector also remained subdued, while manufacturing-related demand continued to soften, a trend that could persist for months. At the same time, net steel exports have been unable to match the robust levels recorded during the same period last year. Source: Trading Economics 2026-07-01 hellenicshippingnews... tweet Share