iron ore prices - Latest news GMK Center

The real situation in the country's steel sector does not correspond to the trend in the iron ore market

Further positive dynamics are at risk due to the potential deterioration of the Chinese economy

During September 22-29, iron ore futures on the Dalian Commodity Exchange fell to $116.64/t, and on the Singapore Exchange – to $120.77/t

During September 15-22, iron ore futures on the Dalian Commodity Exchange fell to $119.4/t, and on the Singapore Exchange – to $121.2/t

According to the department, iron ore prices will be at the level of $117/t, and in 2025 they will decrease to $105/t by the end of 2023

It is expected that the price of iron ore in the current year will be $110/t

During September 8-15 iron ore futures on the Dalian Commodity Exchange rose to $120.91/t, and on the Singapore Stock Exchange – to $123.5/t

For the period of August 25 – September 1, iron ore quotations on the Dalian Stock Exchange increased by 2.6%

Political support and expectations of seasonal demand support iron ore prices

Chinese steel mills buy raw materials as needed, their demand remains restrained

This is due to weak demand from Chinese steelmakers amid the situation in the construction sector

The market is concerned about the state of the real estate sector in the country