iron ore prices - Latest news GMK Center

Weak macroeconomic data from China and no signs of a recovery in steel demand are weighing on iron ore prices

Exports of steel products may decrease by 300 thousand tons in annual terms

China's continued weak real estate sector is putting downward pressure on steel demand expectations

During the past week, raw material quotations increased by 2-3%

Quotations of iron ore on the Singapore and Dalian stock exchanges during the period fell to the lowest level since April

World trade in iron ore in 2023 was 1.6 billion tons

The bank's analysts believe that the price of this raw material will be around $100/t by the end of the year

In 2025, the price of raw materials will be $84/t, and in 2026 – $77/t

The negative dynamics are related to the weakening of the demand for steel and the increase in port stocks of ore in China

As in the March forecast, the price is expected to be $105/t this year

Commodity prices remained high last month thanks to stronger steel demand and increased capacity utilization in China

In April, iron ore prices increased by about 10% due to the revival of market activity in China