Treasurer Josh Frydenberg’s economic and fiscal update last week was based on a $55 a ton iron ore price at a time when the market level was almost double that. Nov 2000 - Oct 2020: 90.990 (316.05 %) Chart. China iron ore futures rose more than 5% on Wednesday, on growing concerns about supply of the steelmaking raw material as more countries ordered lockdowns to contain the spread of the COVID-19 pandemic. Is used to make steel for infrastructure and other construction projects. Prices, news and forecasts on global iron ore prices and markets. MMi Daily Iron Ore Report (December 4) As of November 4, iron ore inventories across 35 ports tracked by SMM totalled 118.03 million mt, a decrease of 1.05 million mt from the previous week and an increase of 4.53 million mt year-on-year. Iron Ore 2007-2020 Data | 2021-2022 Forecast | Price | Quote | Chart | Historical. The most active iron ore contract on the Dalian Commodity Exchange for May delivery opened the day higher and extended its gains to end the day 5.06% higher at 665 yuan/mt. Company News. CST. The iron ore price rise to a level last seen in early 2014 continues a process which has seen the steel-making material consistently outperform investment bank forecasts… 2.55 USD +0.046 +1.83%: Today. Enter your email address: Delivered by FeedBurner. The steel-making commodity jumped by … 1.43 Jun 26 2020 3.40 Oct 30 2020. Although the price of iron ore has not fallen as much as other commodity prices since the virus outbreak began, the small price rise we saw in average prices in the first quarter still represented a weak performance, in light of fundamentals. Macquarie's FY22 iron ore price forecast is up 26% to $86.25/t, leading to higher earnings upgrades of 33% for BHP, 76% for FMG, 76% for Mount Gibson, and 112% for MinRes, while Rio's CY22 earnings rise 46% and Champion's rise 119%. Notes: The OCE forecasts the FOB (free on board) Australia iron ore price, not the benchmark CFR (cost and freight) North China iron ore price. Press Releases and Awards. The increases translated to only modest price target upgrades of 4-6%, aside from Champion, up 12%. Rope and Sling installs fall restraint systems at Tata Steel, Port... 360 Editor-November 9, 2020. Higher prices … Our tools allow individuals and organizations to discover, visualize, model, and present their data and the world’s data to facilitate better decisions and better outcomes. On 6 November, the benchmark iron ore 62% Fe import price including freight and insurance at the Chinese port of Tianjin traded at USD 118.5 per metric ton (mt), which was 1.7% lower than on the same day in September. This statistic depicts the average annual prices for iron ore from 2014 through 2019, with forecasted figures for 2020 to 2025. Singapore iron-ore data analytics firm Tivlon Technologies predicts even greater price gains, with $150 to be reached by October. However, a variety of assets are still trending higher, including the Nasdaq 100 index of US tech stocks and commodities such as copper, iron ore and lumber. Knoema is the most comprehensive source of global decision-making data in the world. Range. China’s steel and iron ore market Steel price trends Input raw material price trends Global steel trade statistics . JPMorgan also recently forecast a major iron-ore deficit materialising this year, with demand outpacing supply by 100 million tonnes, while the global head of mining at UBS, Glyn Lawcock, expects prices to soon hit $140 per tonne. 2019 has been a volatile year for the iron ore market. The annual average price for seaborne iron ore … Coverage includes global price data, market news, short and long-term forecasts on iron ore prices. The Australian dollar has strengthened along with the iron ore price, to US74.30¢ on Monday. 6m 1y 5y 10y 15y 20y 25y 30y. data analysis. Higher oil prices and other metals, as well as a weak US … Dec 4, 2020 17:20. WTI Crude Oil. Unit: US Dollars per Dry Metric Ton. STAY CONNECTED. Iron Ore Monthly Price - US Dollars per Dry Metric Ton. The 2021 forecast was lifted by 5% to $58/mt from $55/mt. Pricing for 62%, 63%, 65% iron ore grades and iron ore pricing index. Empower business decisions with trusted data and cutting-edge analysis into the iron ore market. Currency: Compare to: Source: Thomson Reuters Datastream, World Bank. Key Quotes: "Three-month forecast raised to $85/ton vs. $80 previous.. Growth in China (the world’s largest consumer of metals) has affected the price of iron ore so much recently that the spot price can almost be considered a proxy for China’s economic health. Iron Ore. Will Iron Ore Prices fall Below USD 50/t in 2018 ? Iron ore – More supply to return . Our experts at Wood Mackenzie are renowned for their knowledge of the iron ore forecast. China, 62% Fe beginning December 2008; previously 63.5%. Feature. The price of seaborne iron ore may go as low as $50 per ton this year, predicted by Wood Mackenzie, is over bearish. Iron ore hits 7-year high after Vale lowers output forecast Dec 02 2020; Electricity industry/climate change: playing it cool Dec 01 2020; More Energy; Metals; Agriculture & lumber; Commodity Last price/ contract Today's change 1-year trend Low 52-week High; Natural Gas. Brazil’s Vale SA said this week that it would produce 300 million to 305 million tonnes of iron ore this year, down from a prior forecast of at least 310 million. Iron Ore Price Outlook Iron ore prices continued to lose ground over the past month amid increased supply in the global market. Analysts at Goldman Sachs revised higher their iron-ore price forecasts for the 3, 6, and 12-month horizons. 27 November 2020. 360 Editor-June 5, 2017. Description: Iron ore (any origin) fines, spot price, c.f.r. Iron ore outlook reports. Data Analysis. Purchase by credit card or invoice. All of the iron ore producers traded lower yesterday, particularly the smaller and higher-cost producers, due mainly to iron ore not staging a recovery from last week’s 3.8 per cent price slump to fresh five-year lows. But the sentiment was also hit by the Citi downgrade of its iron ore price forecasts. The price of one of Australia's biggest exports to China, iron ore, has hit a seven-year high amidst growing tensions between the two nations.. PR and Awards. See also: Mineral … Tag: iron ore price forecast 2020. The report also analyses factors affecting the country's demand for iron ore and profiles the major iron ore producers. Stay ahead of the industry with iron ore outlook reports covering the short-term and long-term forecast. Vale forecast 2023 operating income excluding provisions (adjusted EBITDA) between $17.4 billion and $29.6 billion, assuming average iron ore prices of $70-100/tn, average nickel prices of $14,000-$20,000/tn and average copper prices of $6,600/tn, with an exchange rate of 4.77 reais per dollar. Price Review & Forecast. It’s worth noting that the government is being cautious in its price forecasts, with its expected iron ore price well below the current spot price of US$103.50 a … Consultancy firm Fitch Solutions has raised its iron-ore price forecast for this year from $80/t to $90/t. The unfortunate Vale dam accident in Brazil raised concerns over supply tightness, with Vale forced to … Summary Forecast Stats ... Iron ore prices refer to Iron Ore Fine China Import 63.5 percent grade Spot Cost and Freight for the delivery at the Chinese port of Tianjin. Download the 40yr price history. Iron ore arrivals at Chinese ports fell 950,000 mt on week Sep 01, 2020 14:00 CST SMM Morning Comments (Sep 1): Shanghai base metals rose broadly on weak dollar, upbeat China’s Caixin/Markit manufacturing PMI We are currently slightly bearish towards prices in 2020 and forecast LME 3M copper to average at US$5,750/tonne as base case prices but the risks are largely dependent on macro uncertainties. As of Dec 04 2020 21:59 GMT. In its December 2019 edition of the Resources and Energy Quarterly, the Canberra-based unit pegged the average iron ore price for 2020 at $61.70/mt, which is 3% higher than the $60/mt forecast it gave in its September edition. … Iron ore prices fell across the board on Monday November 23 due to expectations of weak demand for steel and iron ore during the coming few days of cold weather. This marked four consecutive weeks of decline. By 5 % to $ 58/mt from $ 55/mt reports covering the short-term and long-term forecast factors affecting country. 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2020 iron ore price forecast