Research

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

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February 2020 | Steel Forecaster


Raw materials focus


Sharp iron ore price falls amid demand uncertainty and extended holiday in China

The iron ore benchmark recorded sharp drops in late January and the Fastmarkets’ index for 62% Fe fines cfr Qingdao tumbled down to $84.94 per tonne on January 31, down from $97.58 per tonne in the middle of the month. Prices have been on a downward path since the outbreak of the Wuhan coronavirus, but we saw a temporary uptick in the iron ore benchmark in early February as the markets reopened after the Lunar New Year. The low prices attracted interest among buyers, providing some price support, but prices fell again, and the bearish risk remains due to the shutdowns imposed to contain the coronavirus.

On a monthly basis, iron ore prices rose in January, as can...

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