Iron ore futures held below CNY 770 per ton, hovering near eight-week lows, as demand from top consumer China cooled with manufacturers halting activity ahead of the extended Lunar New Year holidays. Port inventories in China continued to build as the industry entered a seasonal shutdown, with data showing stocks rising above 160 million tons for the first time since February 2022. Supply pressures also mounted as major exporters Australia and Brazil ramped up shipments in late January. Brazilian mining giant Vale said last week it delivered a record volume of iron ore in 2025. In Australia, Port Hedland, the country’s largest iron ore export hub, resumed operations after cyclone warnings were lifted. The terminal handles a significant share of national exports from major miners including BHP Group and Fortescue Ltd.
