iron ore prices - Latest news GMK Center

The agency has also revised its forecast for coking coal prices this year to $220/t, up from $190/t previously

Commodity prices began to decline following an upward trend that had been in place since early March

Over the past month, the price increase amounted to 5.4%

Raw material offers as of April 24 reached $110.2/t

April prices rose by 2.3% compared to the average price of raw materials in March

The market was supported by weather and geopolitical factors, although high inventories at Chinese ports held back further growth

The market was buoyed by China’s stimulus measures, higher freight rates, and supply risks, but high inventories are holding back further growth

The expected price for iron ore is $95 per ton

Currently, Qingdao (KORE 62% Fe) quotes are at their lowest level since August 2025

In 2027–2028, the NBU forecasts a negative trend for ore prices and a positive one for steel billet

As of January 12, quotations on the Dalian Exchange reached $117.92/t, and on the Singapore Exchange – $109.2/t

The main reasons are prolonged stagnation in steel demand in China and the launch of the large-scale Simandou project in Guinea