Iron ore fell for a sixth day on signs that Chinese efforts to cut production in a major steelmaking hub are having less impact than anticipated.

Iron ore futures prices declined on Wednesday, pressured by a mandated production cut ahead of a military parade in China and U.S. trade restrictions on steel imports. The most-traded January iron ore contract on China’s Dalian Commodity Exchange (DCE) traded 0.19% lower at 769 yuan ($107.09) a metric ton.

South Africa's Assmang is weighing the closure of its Beeshoek iron ore mine after failing to secure a contract to supply its sole customer, the ailing steel producer ArcelorMittal South Africa. The closure of the mine could result in the loss of 688 jobs,

Iron ore edged up after a three-day drop on speculation that steel demand in China may rebound seasonally, aiding demand and prices.

The Kiruna Church and its belfry are being moved this week along a 5-kilometer (3-mile) route east to a new city center as part of the town’s relocation.

The potential shutdown of the mine could lead to the loss of 688 jobs, a situation that has prompted discussions with unions.

For those willing to ride out the commodity swings, Labrador Iron Ore offers a rare blend of direct resource exposure and hefty income. Just know that the path to collecting that 8% yield won’t be smooth, and your returns will depend as much on China’s steel mills as on anything happening in Labrador.

Meanwhile, the US said on Tuesday that it was targeting more imports of Chinese goods, including steel, copper, and lithium, for high-priority enforcement over alleged human rights abuses involving the Uyghurs.

Itaú BBA confirmed its favourable view on Vale (VALE3) after the release of the miner’s second-quarter 2025 results. The bank maintained its ‘outperform’ recommendation, which is equivalent to a ‘buy’ rating, and set its target price for R$70 per share by the end of 2026.