Iron Ore Set for Biggest Weekly Gain In a Year on CMRG’s Curbs

Iron ore headed for its biggest weekly gain in over a year, after China’s state-backed buyer moved to expand restrictions on BHP Group products.

Singapore futures of the steelmaking ingredient have risen over 6% this week, which would be the largest increase since January 2025. Prices rose Friday to nearly $109 a ton as Chinese mills rushed to transfer BHP ore from port stockpiles to plants to get ahead of any curbs.