Commodity Market Report
Global iron ore short-term outlook July 2023
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 spot prices increased further to US$113.40/t (+US$0.50/t m-o-m) in July, as the ferrous market is pricing in the release of detailed supportive measures following the July Politburo meeting by the Chinese government. The highlight of the meeting is a pro-growth shift toward the property sector, with the additional aim of boosting private confidence and household consumption. The iron ore market continues to look past the concerns of subdued growth, a faltering property sector, and steel production cuts affecting iron ore demand. However, we maintain our view that iron ore prices will decline to US$105/t by Q4 2023 and average US$100/t in 2024.
Table of contents
- No table of contents specified
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
Insight
Wood Mackenzie 2025 Webinar - Bulks in Flux: from Coal to Green Steel
Navigating global bulk commodity market opportunities and challenges
$1,050
Asset Report
Banmiaozi gold mine
A detailed analysis of the White Mountain gold mine.
$2,250
Asset Report
Mirai bauxite mine
A detailed analysis of the Miraí bauxite mine.
$2,250
