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

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February 2020 | Steel Raw Materials

Benchmark continues upward despite expectations: Iron Ore Market Analysis

The rising surplus put pressure iron ore on prices which fell by 12% or $12 per tonne to average at $89 per tonne in Q4

The pace of growth in iron and steel production in China, the main price driver for iron ore, continued to record a year-on-year slowdown for each quarter last year. The pace of growth in crude steel dropped from +11% in Q1 to only +3% in Q4. As we anticipated, iron ore prices continued the downward correction in the fourth quarter of 2019 as the Chinese iron ore market continued the surplus in Q4. The surplus grew slightly by half a million tonne to 7 million tonnes,...


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