Iron Ore Slips to $95.3/T as Supply Rises, Coke Costs Squeeze Steelmakers

Iron ore futures on the Singapore Exchange fell 0.3% to $95.3/ton in October, pressured by increased supply and rising coke costs that squeeze steelmaker margins. The decline reflects ongoing oversupply in the seaborne market and cost pressures in the steel value chain, which could weigh on steel output and demand for iron ore.