Commodity Market Report
Global iron ore short-term outlook October 2024
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Report summary
The 62% Fe CFR China price averaged US$104.0/t in October, up by US$10/t or 10.7% compared to the previous month. Stimulus announcements from Chinese policymakers have influenced the iron ore market, but marginal improvements in iron ore fundamentals have also helped stabilise the market. Looking ahead, expected reductions in China's downstream demand will likely diminish support for steel prices (pressuring iron ore prices). However, expectations of additional fiscal stimulus measures to come out of the upcoming governmental meetings in China have positively affected prices.
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- Short-term outlook - October 2024
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