Iron ore prices jump as China hints at economic boost

Business Jan 07, 2026

Iron ore just hit its highest price since July 23, after China signaled plans for more economic support.
The most-traded contract on the Dalian Commodity Exchange rose over 3%, reaching about $118 per ton.
This surge is all about hopes that China's move will fire up demand for steel and related materials.

Ripple effect on steel and raw materials

The price spike didn't stop at iron ore—coking coal and coke also shot up nearly 8% and 7%. Steel products like rebar and stainless steel saw solid gains too.
Analysts say this rush is partly due to Chinese steel mills stocking up before Lunar New Year, plus optimism around Beijing's new monetary policies.