The global iron ore market outlook has been segmented based on product type, form, end-use industry, and region. The price of iron ore, the main ingredient of steel, is being propelled upward by the combination of growing shortage and intensifying demand. Press Releases and Awards. Top iron ore shipper Australia predicts elevated prices will stay for the rest of 2020 as Chinese demand strengthens and supply is slow to increase. It boosted the forecast for this year by almost 30% and also raised its 2021 outlook. That compares with forecasts of $US42 for this year, $US44.10 in 2017 and $US51 by 2020, according to the bank's report in January, when it said it expected iron ore … Prices will fall, with annual average price forecast for 2020 at $80/t. World steel consumption is expected to contract 6% this year, due to the coronavirus and slowing economic growth, before expanding 5% in 2021. Iron outlook 2020: The year in review. It is timely to take a strategic vi… Vale reduces 2020 iron ore output forecast MINING.COM Staff Writer | December 2, 2020 | 9:27 am News Top Companies Latin America Iron Ore In … Before it's here, it's on the Bloomberg Terminal. Brazilian miner Vale on Wednesday unveiled iron ore production targets that ... Consumer spending will to return to normal first, as forecast in the budget. A mixture of trends were forecast for steel, iron ore and coking coal prices in 2020 at the London Metal Exchange Ferrous Focus session 2020. 2007-2020 Data | 2021-2022 Forecast | Price | Quote | Chart | Historical. But Wood Mackenzie research director Paul Gray said that there could be more surprises in store from Vale — except this time in the opposite direction. Next year, interest rate hikes will prevent stocks from growing and dampen steel demand. Iron ore is Australia’s most-valuable export, with the rally in prices and a weaker domestic currency pushing earnings to a record A$103 billion in the 2019-20 financial year, according to the department. Many commodities have watched their prices drop, but iron ore is one exception; its price has surged to levels not seen since 2014. Iron ore market forecast up to 2029 Detailed analysis of iron ore market in a country is available covering data on capacity (by plant), production, consumption, trade, prices and market forecast. Iron Ore Forecasts Energy & Metals Consensus Forecasts™ is the result of a comprehensive monthly survey of over 40 of the world’s most prominent commodity forecasters covering over 30 individual commodity price forecasts including iron ore. Iron ore prices could benefit as a cautious post-COVID-19 economic recovery begins in China, the world’s biggest consumer of the steel-making ingredient. Much of the output growth depends on anticipated stimulus and, with export markets in decline, growth measures will remain important to the country’s steel market potentially into 2021. (Flickr: Tauno Tõhk / 陶诺) Coronavirus outbreak to weigh on global steel markets. Segmentation Analysis. Uncertainties remain regarding the development of the Covid-19 pandemic over the winter months, but prices are likely to maintain their momentum in the near term. 5 results. UBS said prices were unsustainable at these levels and expected iron ore to fall back below $100/t by the end of the year. Devastating circumstances affecting the world’s top producers, Brazil and Australia, along with booming demand in … An outbreak of a new coronavirus (2019-nCoV) in Wuhan, the capital of Hubei province in mainland China, and subsequent extension of factory closures beyond the Lunar New Year holiday have caused a downward revision to our iron ore and steel price forecasts over the first half of 2020. Consultancy firm Fitch Solutions has raised its iron-ore price forecast for this year from $80/t to $90/t. The Wood Mackenzie team expects Q1 exports to be strong, paving the way for a total increase of 30 million tonne… Goldman Plots Florida Base for Asset Management in a Blow to New York, Apple Preps Next Mac Chips With Aim to Outclass Top-End PCs, The 10 Cars You’ll Want to Consider Investing In Next Year, Global Investors Keep Pouring Money Into Asia’s Red Hot Markets, U.S. 1Y. Those short positions are already chipping away at the iron ore price, the article reports, in Asia afternoon trade. Publish your articles and forecasts in our website. Iron ore markets - short-term outlook - November 2020 27 November 2020 Having briefly dipped to $117/t CFR at the start of November, the benchmark 62% Fe fines index hit $130/t CFR in the final few days of the month. Purchases are expected to climb in 2021 and reach 1.3 billion in 2022. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. 360 Editor-June 5, 2017. Monthly price chart and freely downloadable data for Iron Ore. Price in US Dollars per Dry Metric Ton. In 2020, Vale could once again be the biggestswing factor for iron ore, but this time in the opposite direction. PR and Awards. 240 month history. Have a confidential tip for our reporters? Download historical data for 20 million indicators using your browser. Iron Ore - data, forecasts, historical chart - was last updated on November of 2020. It lifted its 2020 price forecast to $98/t from $91/t) and added $5/t to its forward curve out to 2023, equating to an average price of $85/t next year, $75/t in 2022 and $70/t in 2023. The biggest producers of iron ore are China, Australia and Brazil. 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