What's inside this report?
- In 2019 the single biggest “moving part” on the supply side of the global iron ore equation was the loss of almost 60 Mt of seaborne supply from Vale. In 2020 could Vale once again be the biggest swing factor, but this time in the opposite direction?
- Last year Chinese iron ore production increased by approximately 30 Mt in response to strong domestic demand and tight seaborne supply. In 2020 we forecast a decent recovery in seaborne supply. To what extent could higher seaborne supply squeeze out some of last year’s growth in Chinese production?
- The past two years have been a roller-coaster ride for iron ore grade price spreads and impurity penalties – notably silica and alumina differentials. How will this evolve in 2020?
In this report, our experts discuss their top five themes to watch this year.
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