Commodity Market Report

Global iron ore short-term outlook January 2020

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31 January 2020

Global iron ore short-term outlook January 2020

Report summary

After a stellar performance in 2019, iron ore continued its strong trajectory in the first few weeks of 2020, with the benchmark 62% Fe index topping $95/t CFR. But prices went into reverse from mid-January as the fear factor kicked in driven by a rapid escalation of the coronavirus outbreak. We end the month in the low-$80/t range. In view of iron ore’s vulnerability to further supply side disruptions (evident from current flooding in southeast Brazil), and the potential for Beijing to provide targeted financial stimulus to the steel intensive construction and infrastructure sectors later in the year, we see no immediate need to revise our current CY 2020 price forecast of $80/t CFR.

Table of contents

Tables and charts

This report includes 18 images and tables including:

  • Indian iron ore auction update
  • Fe grade spreads widen in Q4-19
  • Prices rise in January - but February will be lower!
  • Key quarterly forecast
  • Capesize spot freights, US$wmt, to China (Beilun/Baoshan)
  • Chinese iron ore imports
  • Chinese imports by source country
  • China: mine utilisation rate
  • Chinese iron ore port inventory
  • Global hot metal production
  • Chinese hot metal production
  • Quarterly indicators: iron ore trade, crude steel and hot metal production (Mt)
  • Annual iron ore exports forecast by country/region
  • Annual iron ore imports forecast by country/region
  • Annual hot metal output forecast by country/region
  • Quarterly mine production by company
  • Q3 2019 Year-on-year change in quarterly production by company (100% basis)
  • Quarterly iron ore production - selected companies (Mt, 100% basis)

What's included

This report contains:

  • Document

    Global iron ore markets short-term outlook data January 2020.xls

    XLS 417.00 KB

  • Document

    Global iron ore short-term outlook January 2020

    PDF 1.57 MB

  • Document

    Global iron ore short-term outlook January 2020

    ZIP 1.51 MB

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