Commodity Market Report

Global iron ore short-term outlook June 2022

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Chinese steel demand expected rebound has disappointed causing steel and iron ore prices to contract month on month. The situation in regard to Covid is still fluid and fears of further restrictive measures on economic activities is keeping the market nervous about Chinese steel consumption. The market will continue to be driven alternatively by demand concerns and expectations of a demand rebound. We remain of the view that the situation is more likely to improve than deteriorate in the short term. On the pricing front, sentiment is weak currently, but, we expect the situation to gradually improve and iron ore price to revert back towards the $130 mark over H2 2022.

Table of contents

  • China's support pledge needs action to re-boost sentiment
  • Technical perspective
  • High grade ore, lump and pellet
  • Update on Ukraine
  • India's iron ore production picks pace; exports tumble
  • Chinese domestic ore supply starts to recover but hit by low steel mills’ margins
  • Dry bulk freight market softens
  • Iron ore port inventories down 8.8 Mt in June

Tables and charts

This report includes 26 images and tables including:

  • Iron ore prices
  • Raw material prices and hot metal spread
  • Quarterly price forecast
  • 62% Fe - Fibonacci retracement levels
  • 62% Fe - Moving averages
  • Pellet premium
  • Lump premium
  • Ukraine’s concentrate production and exports
  • Russia’s pellet production and exports
  • Supply summary snapshot
  • Brazil iron ore exports
  • Brazil iron ore exports: by shippers
  • Australia iron ore exports
  • Australia iron ore exports: by shippers
  • India iron ore exports
  • India iron ore production
  • China iron ore mines utilisation
  • China iron ore production
  • China BF and EAF utilisation rate
  • Daily production of CISA member companies
  • China iron ore imports
  • Chinese steel trade (semis and finished)
  • Brazil-China freight rates
  • West Australia – China freight rates
  • Chinese iron ore port inventories
  • Chinese total steel inventories

What's included

This report contains:

  • Document

    Global iron ore short-term outlook June 2022

    PDF 1.31 MB