Iron (SGX) Prices

29-01-2026 - Over the past month, the price of iron ore on the Singapore Exchange (SGX) has seen a slight decrease, moving from $107.3/t to $105.7/t, indicating a modest downward trend in the market value of this raw material. The forecast suggests a slight increase to $106.39/t, a 0.7% rise from the current price of $105.7/t, reflecting a generally stable trend with minimal risk due to the small price fluctuation.

The current market forecast presents mixed signals. While 'Flows' data points to a potential price drop of $1.92/t, influenced by seaborne imports and exchange rates, 'Demand', 'Supply', and 'Technical' data suggest upward pressure on prices. This indicates a lack of consensus among different data types.

Recent developments hint at a potential upward trend in iron ore prices, consistent with the forecast of $106.39/t for the coming month. On January 7, 2026, iron ore futures on the SGX approached $109/t, marking the highest level since February. This increase is largely attributed to expected macroeconomic support from the People's Bank of China, which plans to use various policy tools, including interest rate cuts, to boost the economy. Additionally, pre-holiday restocking activities ahead of the Lunar New Year have contributed to the price rise.