Iron Ore 62% Fe CFR Futures prices have been on a rising trend from the start of the year 2019. On January 1 2019 iron ore price was at US$71.06 per tonne and on July 16 2019 it rose to US$121.14 per tonne reflecting an increase of 70.5% on a year-to-date basis.
The Global Iron Ore Market: Demand Supply Prices and Operating Costs out to 2030 Iron Ore Market Intelligence Service The most comprehensive and in-depth iron ore market intelligence service available.
Iron ore demand is still rising with prices trading closer to the magic $US130 per tonne this week as steel mills again increased their profit margins. Spot prices have advanced to $US126.80 per tonne $173.85/t and shadowing a move up in steel product prices.
Overall the outlook for iron ore is looking more finely balanced currently than it has in recent months with supply recovering and demand holding steady at high levels. Editing by Kenneth Maxwell
Seaborne iron ore exporters including Vale VALE BHP Billiton BHP and Rio Tinto RIO generate more than two-thirds of the total seaborne iron ore supply. So supply tightness and Chinese steel ImagesMore results in images
Supply growth is expected to be primarily driven by India and by Brazil where the world’s top iron ore miner Vale is set to expand output with its new mine. In Q3 2018 Vale broke a new sales