iron ore prices - Latest news GMK Center

Declining sales in China's real estate market, weak demand and the impact of COVID-19 are dragging down iron ore futures

Iron ore futures increased for the week of September 2-9, 2022 compared to the previous week by 7.4%

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