iron ore prices - Latest news GMK Center

Local traders expect an increase in demand in September

Abnormal heat led to periodic power outages and the shutdown of some steel plants

Production decreased by 18.7% compared to June

A range of positive news pushes ore prices to a four-week high

This forecast is based on the crisis in the Chinese real estate market

Raw material prices reached $100.7/t on Friday

The price of a ton of raw materials fell below $100

In 2023 and 2024, the cost of ore will fall even lower - to $85/t and $70/t

Diversification of supplies is required due to expected export cut from Ukraine

Due to the war and unfavorable market conditions, supplies began to decline

The war, problems with logistics and raw materials deliveries are strongly affect the steel production too

The agency expects production to grow by an average of 2.7% in 2022-2026, compared to a decrease of 1.3% in 2017-2021