Commodity Market Report
Global iron ore short-term outlook May 2023
Report summary
Iron ore spot prices hit a new low for 2023 at US$97/t, down 27% from the year’s peak of US$133/t in March. Some support was apparent at this level, and the spot price rebounded above the US$100 mark. We continue to maintain our view of weakness in prices in H2 2023 as incremental mined output exceeds incremental demand from China . We expect the iron ore price to average US$108/t in Q2-23 and decline to US$105/t by Q4-23 and hence average US$111/t for the year.
Table of contents
- Short term outlook - May 2023
Tables and charts
This report includes 1 images and tables including:
- Iron ore markets snapshot
What's included
This report contains:
Other reports you may be interested in
Commodity Market Report
Global Iron Ore Strategic Planning Outlook – Q2 2023
Iron ore price downward trajectory as Chinese demand structurally declines
$10,000
Commodity Market Report
Global iron ore short-term outlook November 2023
Iron ore prices defying expectations yet again
$5,000
Commodity Market Report
Global iron ore short-term outlook May 2022
Will China turn around the corner for iron ore?
$5,000
