Iron Ore Set for Longest Losing Run Since 2022 on Supply Signs

Iron ore was on track for the longest streak of weekly losses since 2022, weighed by signs of a loosening market as flows improved from Australia and Chinese ports saw elevated stockpiles.

Benchmark futures for 61% content ore in Singapore dropped for an eighth straight day to hit the mid-$90s per ton, and were set for a sixth weekly loss. Trading volumes, however, have been relatively thin this week as China markets are closed for Lunar New Year holidays.