Typhoon Zitan disrupted South China Sea shipping routes, raising freight and pushing iron ore futures higher. Singapore Exchange benchmark September iron ore futures rose 1.04% on Wednesday to $98.15 per tonne. Higher freight typically supports seaborne iron ore prices, but analysts said widening steelmaker losses have slowed production and mill inventories remain relatively high, capping further upside for ore.

2026-08-26

Typhoon Zitan disrupted South China Sea shipping routes, raising freight and pushing iron ore futures higher. Singapore Exchange benchmark September iron ore futures rose 1.04% on Wednesday to $98.15 per tonne. Higher freight typically supports seaborne iron ore prices, but analysts said widening steelmaker losses have slowed production and mill inventories remain relatively high, capping further upside for ore.