Key Facts
Iron ore steadied near US$95 a tonne as the benchmark price slipped just 0.01% to US$95.16 on Thursday, August 20, 2026.
Vale’s New York-listed shares rose sharply closing up 2.37% at US$14.23, diverging from the flat commodity price.
China’s steel output is rebounding from maintenance, though still below last year with CISA mills producing 1.973 million tonnes of crude steel per day in early August, up 5.8% from late July.
Construction steel demand remains subdued with HRB400E 20mm rebar prices at 3,216 yuan per tonne on August 13, down 18 yuan from end-July.
