Iron ore prices rose as strong Chinese demand and tight near-term supply supported the market ahead of the May Day holiday (May 1–5). Singapore futures climbed as much as 0.6% to $106.40, while Dalian prices also advanced. CITIC Futures’ Chenxi Gui said mills are restocking amid low inventories and resilient molten iron production. Port stockpiles fell 0.7% to 164.8 million tons, the second weekly decline. However, gains may be limited due to weak broader demand, supply uncertainty, and sensitiv

Iron ore prices rose as strong Chinese demand and tight near-term supply supported the market ahead of the May Day holiday (May 1–5). Singapore futures climbed as much as 0.6% to $106.40, while Dalian prices also advanced. CITIC Futures’ Chenxi Gui said mills are restocking amid low inventories and resilient molten iron production. Port stockpiles fell 0.7% to 164.8 million tons, the second weekly decline. However, gains may be limited due to weak broader demand, supply uncertainty, and sensitivity to US–Iran tensions and the BHP supply dispute.