Insight
Value-in-use iron ore costs Q2 2024
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The average global value-in-use (VIU) iron ore cost for Q2 2024 is US$59.5/t (62% Fe fines basis, CFR China). This is up 3.5% compared to the last quarter and 11.6% compared to the previous year. Despite a slight decline in energy prices in Q2 2024, cost pressures from rising labor and general inflation remain. The increases in Q2 2024’s iron ore cost are also due to higher freight rates, penalties for undesirable elements, and the weaker US dollar we expect in 2024.
Table of contents
- Executive Summary
- Lump premiums continued to fall and pellet premiums rose slightly in Q2 2024
- Fines and impurities
- Cash margins dropped in Q2 2024
- China’s costs and supply
- VIU assumptions
Tables and charts
This report includes 6 images and tables including:
- Q2 2024 value-in-use adjusted iron ore cost curve (CFR China, 62% Fe fines equivalent)
- Q2 2024 VIU adjusted cost by country (CFR China)
- Q2 2024 VIU adjusted cost by percentile (CFR China)
- Q2 2024 seaborne iron ore cash costs by operator (CFR China, unadjusted for quality)
- Q2 2024 seaborne iron ore cash costs by operator (CFR China, 62% Fe fines equivalent)
- Q2 2024 China value-in-use adjusted cost curve (62% Fe fines equivalent)
What's included
This report contains:
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