Australia's iron ore (62% Fe, CFR China) on June 11 slightly increased by US$0.65 to US$95.05. Although global iron ore shipments increased, the volume arriving at Chinese ports only saw a slight rise, leading to a halt in the decline of iron ore prices and a subsequent rebound.

According to market participants, market demand remains weak during the off-peak season, and the rise in China's steel prices may only be a temporary rebound. However, with miners currently rushing to ship their products, supply pressure is expected to ease slightly before the end of the year. 

Meanwhile, China's molten iron production has declined for four consecutive weeks, but the rate of decline remains slow. In the short term, iron ore prices may exhibit a volatile trend.