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Iron ore futures fell toward CNY 680 per ton, approaching four-year lows as abundant global supply, elevated Chinese inventories and falling shipping costs continued to pressure prices. Global mining capacity is expanding, while producers are boosting shipments in the fourth quarter to meet quarterly and annual targets
Nickel traded around $16,200 per tonne, extending losses as ample availability continued to weigh on prices. Philippine ore shipments have helped offset tighter domestic ore availability in Indonesia, partly easing the impact of the country’s lower 2026 nickel ore quota. Additionally, LME on-warrant inventories rose to