Iron ore prices have dipped close to their lowest point in 13 months, pushing the market to a level that could threaten some high-cost production capacity.

Singapore iron ore futures fell to $92.85 per tonne, the lowest level since late June 2025, before recovering to trade roughly flat. Citigroup reported on Monday that the persistent decline has pushed iron ore into a range where it may begin to pressure certain high-cost and non-mainstream suppliers.

Analysts, including Ephrem Ravi, noted that at prices between $90 and $95 per tonne, approximately 15 million to 40 million tonnes of annual production are at risk. However, to substantially drive market rebalancing, prices may need to fall further toward $85 per tonne. As of 12:17 PM, iron ore was trading flat at $93.80 per tonne, after slipping 2.2% on Monday.