Global iron ore short-term outlook January 2022 Report

Commodity Market Report 31 January 2022

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Report summary

Iron ore has bounced back with a vengeance with spot prices approaching $150/t CFR in the final few days of January. We have raised our Q1 forecast to $125/t (was $90/t), lifting our full year forecast to $105/t. We still favour a downward trajectory from Q2 onwards, but all recent indicators suggest the decline will be shallower than previously thought and the starting point higher than previously thought. Read this report for our latest assessment of short-term supply/demand trends and pricing.

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A strong start to 2022
Technical perspective
High grade ore, lump and pellet
Supply side struggles
- Short term outlook for Brazilian supply
- Short term outlook for Australian supply
- India – a big year ahead for pellet exports?
- China: strong December, stronger January
- Scrap tightness
- Post Olympic demand boost?
- Chinese imports finish 2021 on a low
- Iron ore port inventories down from increased domestic demand
- 1 more item(s)...