Forecasts and market analysis based on price assessments from Fastmarkets MB and Fastmarkets AMM

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January 2020 | Steel Raw Materials

A price drop expected in 2020 after last year’s price surge: Iron Ore Market Analysis

The tightened seaborne supply unexpectedly sent the iron ore benchmark rocketing to five-year highs above $120 per tonne in July.

The expected course for 2019 was a downtrend in prices, but this proved to be a too bearish forecast as we later witnessed surging demand combined with an extreme turn of events. From the outset, the market was shaken by the tragic events at the Brumadinho dam, which burst at the end of January. The subsequent months showed a steep decline in Brazilian export volumes as operations were suspended at several of Vale’s mines (40 million tonnes). Australian supply was unable to compensate for the lost Brazilian seaborne tonnages as miners there were hit by supply disruptions in March due to cyclone...


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