Commodity Market Report
Global iron ore short-term outlook December 2022
This report is currently unavailable
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Iron ore prices rose to the highest level in four months, in excess of US$110/t, as the Chinese economy is reopening. But we will have to wait for the spring in China to see fundamental support from the demand side. We anticipate an improving macro backdrop in China (particularly in H2 2023) while the mined supply will remain relatively tight through 2023. Leading miners like Vale and Anglo America snipped their 2023 production guidance. With markets staying balanced, we continued to maintain our iron ore price view for 2023 at US$100/t CFR.
Table of contents
- Short term outlook - December 2022
Tables and charts
This report includes the following images and tables:
-
Iron ore markets snapshot
What's included
This report contains:
Other reports you may be interested in
Insight
Fibres sustainability feed
Wood Mackenzie’s fibres sustainability outlook – a live feed of our latest research
$900
Insight
Perspectives - Metals and Mining - December 2025
A cross-commodity outlook
$1,050
Insight
Global oil supply short-term update - December 2025
OPEC+ policy remains unchanged, with a pause in unwinding cuts in Q1 2026, due to expected oversupply.
$1,350
