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IPC Index — Mexico MarketIron ore futures climbed toward CNY 820 per ton, hovering near one-year highs as weather-related disruptions in Australia’s Pilbara region forced the closure of several ports, heightening supply concerns from the top exporter. Australian miner Fenix Resources also warned that diesel supply constraints linked to the Iran war are beginning to affect operations across the country’s mining sector, prompting the company to scale back some activities. However, gains were capped as China’s key steelmaking hub of Tangshan activated a level-two emergency response to heavy air pollution, raising concerns about potential output curbs and tighter environmental inspections. During the annual parliamentary sessions in Beijing earlier this month, authorities reaffirmed their commitment to reducing overcapacity in the steel sector amid weakening demand.
