Market diagnosis: Iron ore has posted its seventh consecutive weekly loss as three bearish forces converge simultaneously — Simandou supply acceleration (40 Mt/yr, 65% Fe), China crude steel contraction (-2.7% YoY in May, 84.4 Mt), and US-Iran peace deal freight compression removing the last artificial CFR price floor. Port inventories surged to 175.44 Mt (Mysteel, June 25), the highest since the March record. The SGX July contract at $96.65/mt (estimated June 30) represents a 16% decline from the May high in just 6 weeks. This report provides quantified buyer guidance for navigating the accelerating surplus.