We are excited to announce that as of February 1, Wood Mackenzie is a portfolio company of Veritas Capital, a leading investor at the intersection of technology and government. Our focus remains on providing you with the best intelligence, analytics, data and tools to ensure you are making the best data-driven business decisions with confidence.  

Read more in our news release here. 


Iron ore: 5 things to look for in 2023

This report is currently unavailable

Contact us

Submit your details to receive further information about this report.

For details on how your data is used and stored, see our Privacy Notice.

- FAQs about online orders
- Find out more about subscriptions

13 January 2023

Iron ore: 5 things to look for in 2023

Report summary

The global iron ore market will continue to witness fluctuating growth trends in 2023, as policy volatility in China and energy inflation woes will beset the market. Miners’ investments will be oriented towards strengthening product portfolios, decarbonising mine sites, acquiring new technologies, and leveraging capabilities to maintain growth during challenging times. We believe that Chinese hot metal production has peaked, and the country’s demand for iron ore will decline in the coming years. But could China’s demand surprise on the upside in 2023? What impact could China’s CMRG have on iron ore prices by centralising iron ore purchases? Will the progress made in 2022 in Guinea with the Simandou project continue unabated in 2023?

Table of contents

  • 1. Unsynchronised global economic recovery: Could China’s demand surprise on the upside?
  • 2. Supply tracing demand: Will we see a further acceleration of value over volume strategies?
  • 3. Miners firm up decarbonisation agenda: How ambitious is it and will they be able to deliver?
  • 4. CMRG’s increased control over purchasing: Will it contribute to reducing iron ore prices?
  • 5. Simandou significant progress in 2022: Will it continue unabated in 2023?

Tables and charts

No table or charts specified

What's included

This report contains:

  • Document

    Iron ore: 5 things to look for in 2023

    PDF 747.30 KB