Iron Ore Futures Fall as Vietnam Construction Steel Prices Hold Steady
On November 12, Shanghai rebar futures and Dalian and Singapore iron ore futures fell. Singapore iron ore futures briefly reached their lowest level since October 28. Slow port spot trading and expectations of increased supply from Guinea’s Simandou mine weighed on prices, while Vietnam construction steel quotes remained steady as of November 13.
At the close on November 12, December 2026 rebar futures on the Shanghai Futures Exchange fell 0.26% to 3,044 yuan per tonne; December iron ore futures on the Dalian Commodity Exchange fell 1.17% to 674.5 yuan per tonne. December iron ore futures on the Singapore Exchange fell 1.95% to $90.4 per tonne, briefly reaching their lowest level since October 28 during the session.
Price movements in December 2026 rebar futures on the Shanghai Futures Exchange.（VietVance）
The most actively traded January 2027 iron ore futures on the Dalian Commodity Exchange fell 1.61% to 671 yuan per tonne. Analysts at Yongan Futures said port spot trading was slow after restocking ended, with limited momentum for new purchases. Analysts at Everbright Futures said increased output from Guinea’s Simandou iron ore mine pointed to more abundant supply in the medium term.
Data from Mysteel showed that China’s steel exports totaled 1.78 million tonnes in the week ending November 9, down 38.6% from the previous week and 24.8% from a year earlier. Analysts at GF Futures said environmental restrictions on production in northern China and relatively loose supply and demand during the off-season would limit a rebound in steel prices. Coking coal and coke futures on the Dalian Commodity Exchange fell 1.91% and 0.85%, respectively.
Vietnamese construction steel quotes remained steady. As of November 13, Hòa Phát quoted CB240 steel at 14,920 dong per kilogram and D10 CB300 at 14,210 dong per kilogram; Pomina quoted CB240 steel at 14,850 dong per kilogram. The domestic quotes and international futures prices were recorded at different times.
Vietnam construction steel quotes as of November 13, 2026.（VietVance）
Source: VietVance
