Commodity market report

Global iron ore short-term outlook August 2017

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Report summary

August was another rip roaring month for iron ore with the benchmark index testing $80/t. High blast furnace utilisation and tightness in Chinese rebar should provide support around $70/t through September. But there are danger signs ahead for Q4: notably a slowdown in the Chinese property sector and enforced cutbacks to blast furnace output that could reduce demand for seaborne iron ore by 40Mt. Iron ore prices will almost certainly be lower in Q4 than Q3 but it increasingly looks like a "price correction" not a "price collapse".

What's included

This report contains

  • Document

    Global iron ore markets short-term outlook data August 2017.xls

    XLS 409.50 KB

  • Document

    Global iron ore short-term outlook August 2017

    PDF 421.17 KB

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    Global iron ore short-term outlook August 2017

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Table of contents

  • Executive summary
  • Market structure
  • Prices
  • Key companies
  • Supply-demand balances

Tables and charts

This report includes 18 images and tables including:

Images

  • Steel production, monthly y/y growth
  • BF utilisation rate in Tangshan, China
  • Trade of iron ore, monthly volume
  • Trade of iron ore, monthly y/y change
  • Iron ore inventory at Chinese ports, by source
  • Utilisation rate at Chinese iron ore mines
  • Chart 1: Chinese imports on track to reach 1075Mt
  • Chart 2: Australia losing share in China
  • Chart 3: Chinese steel mill margins driving spot iron ore price
  • Chart 4: Coordinated price strength across ferrous and non-ferrous sectors
  • Quarterly mine production
  • Q2-17 year-on-year production change

Tables

  • Key forecast data
  • Key companies: Table 1
  • Supply-demand balances: Table 1
  • Forecast data: iron ore trade and hot metal production (Mt)
  • Prices: Table 1
  • Prices: Table 2

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