Australia's iron ore (62% Fe, CFR China) increased slightly by US$0.75 to US$101.2 on March 6. The price has fluctuated by approximately US$101 over the past three trading days.

China again emphasized the importance of real estate stabilization along with an increase in total government debt and continued strict controls on crude steel production. Therefore, the market sentiment was boosted, and spot steel prices rebounded. At the same time, molten iron output at steel mills recovered, and demand increased, driving iron ore prices higher.

However, market participants noted that China's steel demand recovery remained sluggish. Steel mills were cautious about restocking and purchasing on demand. Market activity remained relatively subdued, with no strong bullish support for iron ore, which is expected to continue experiencing mild fluctuations.