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

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November 2019 | Steel Raw Materials

Benchmark to drop with expected increase in export volumes and slowing demand growth: Iron Ore Market Analysis

Along with slowing demand growth, the steady rise in seaborne iron ore volumes has continued to lend its support to the drop in iron ore prices.

As we anticipated, there has been a downward correction in prices, which have come down from the peak above $120 per tonne, but prices still remain elevated and averaged $90.01 per tonne in October. The pace of growth in monthly iron and steel production in China, the main driver for iron ore prices, slowed down to single digits from the double digit levels we saw in the first half of the year. This was in line with our forecast. In Q2, the year-on-year growth rate fell to 6% from 10% in Q2. Contrary to seasonal patterns, Chinese crude steel production actually...


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