Iron Ore Futures Rebound Above $96 as Market Finds Support After Steep Sell-Off
Official Singapore Exchange data and the latest TradingView chart confirm that iron ore futures for 62% Fe CFR China dipped below $95 per ton on June 2, 2025, marking the lowest level since late May.
The market then staged a sharp recovery, on June 3, climbing to $96.45 before stabilizing near $96.50 by the end of the session.
This move broke a multi-day losing streak and signaled the first meaningful buying interest since May 29.
The technical landscape shifted as the price bounced from the lower Bollinger Band, indicating that sellers lost momentum and buyers found value below $95.
The four-hour chart shows iron ore futures still trading below the 50-day, 100-day, and 200-day moving averages, which cluster between $95.90 and $98.97.
These levels act as resistance and define the prevailing downtrend. The Relative Strength Index remains below the midpoint but has turned higher, reflecting the recent uptick in buying.
The MACD histogram, while still negative, shows signs of convergence, hinting at waning bearish momentum.
Volume analysis reveals that the rebound occurred without a surge in trading activity, suggesting that the move was driven by short covering and cautious bargain hunting rather than aggressive new buying.
Iron Ore Futures Rebound Above $96 as Market Finds Support After Steep Sell-Off
The $94.75 level now stands as immediate support, with resistance at $97.35 and $98.97, according to visible chart pivots.
Fundamentals continue to weigh on sentiment. Chinese steel demand remains weak, with official data showing only modest output growth and high port inventories.
The latest figures report 146.85 million tons of iron ore at Chinese ports, up 28% year-over-year, signaling persistent oversupply.
Mills remain focused on cost control, favoring lower-grade feedstocks and limiting restocking activity.
Supply from Australia and Brazil remains steady, and no new disruptions have emerged. Rio Tinto’s downgrade of Pilbara Blend fines quality has not offset the broader demand weakness.
Macroeconomic signals from China remain tepid. The most recent Purchasing Managers Index points to continued contraction in manufacturing, and fixed asset investment growth has slowed.
Heavy industry investment, which previously supported steel demand, now shows signs of plateauing.
No major ETF inflows or outflows have been reported, and open interest remains steady, reflecting a market in search of direction.
The rebound above $96 suggests that some traders view sub-$95 prices as unsustainable in the short term, but the broader trend remains cautious.
The iron ore market’s rebound on June 3 highlights the interplay between technical support and persistent fundamental headwinds.
Unless Chinese demand improves or supply tightens, prices may struggle to break above resistance, and volatility is likely to persist.
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| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| GOLD | 4,073 | +0.85% | +1.32% | 4,038 | 4,079 | 4,002 | 117,083 |
| SILVER | 54.49 | +0.70% | +17.02% | 54.11 | 54.64 | 52.71 | 34,428 |
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| COPPER | 6.65 | +2.24% | +29.44% | 6.51 | 6.66 | 6.54 | 37,751 |
| LITHIUM | 62.43 | +1.89% | +5.14% | 61.27 | 62.62 | 61.56 | 130,024 |
| IRON ORE | 161.91 | — | +53.37% | 161.91 | 161.91 | 1 | |
| SOY | 1,250 | +0.70% | +17.12% | 1,241 | 1,262 | 1,249 | 156,494 |
| CORN | 450.25 | -1.04% | +5.01% | 455.00 | 455.00 | 449.75 | 143,350 |
| WHEAT | 614.75 | -0.20% | +16.87% | 616.00 | 618.50 | 610.00 | 51,884 |
| COFFEE | 294.35 | -2.19% | -24.54% | 300.95 | 304.90 | 289.05 | 16,022 |
| SUGAR | 19.26 | +0.84% | +33.20% | 19.10 | 19.42 | 19.03 | 74,161 |
| COCOA | 5,581 | +1.66% | -9.72% | 5,490 | 5,622 | 5,444 | 13,619 |
| ORANGE JUICE | 143.20 | +5.45% | -26.07% | 135.80 | 148.80 | 142.50 | 1,394 |
| COTTON | 77.90 | -1.47% | +20.66% | 79.06 | 81.07 | 80.01 | 20,308 |
| BEEF | 230.73 | +0.33% | +0.83% | 229.98 | 231.58 | 229.75 | 13,888 |
| CATTLE | 346.40 | -1.00% | +0.26% | 349.90 | 349.70 | 346.33 | 5,755 |
| USD/BRL | 5.34 | -1.32% | -0.84% | 5.42 | 5.42 | 5.30 | — |
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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