Commodity Market Report
Global iron ore strategic planning outlook – Q2 2024
This report is currently unavailable
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Through the first half of 2024, Chinese crude steel production has been 2% below the level of last year. We project only moderate growth for steel demand in 2024. The pockets of optimism from stimulus measures seem to be fading faster each time. Ambitions from China to cap this year’s production to a level similar to 2023 do not bode well for iron ore demand while supply appears ample, which will pressure prices. In the long term, China's demand for iron ore will shrink by 590 Mt (2024-2050). While additional supply from Simandou will contribute to an oversupplied market, pressuring prices lower, demand for direct charge ores and high-grade fines will increase, and quality differentials will widen to meet the needs of steel decarbonisation. This report presents our current assessment of iron ore market dynamics and our long term price outlook.
Table of contents
-
Executive summary
- Demand:
- Supply:
- Price:
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
Insight
Will Russian gas and LNG come back?
Three possible peace agreement between Russia and Ukraine and the implications on global gas and LNG markets and prices.
$950
Country Report
Global iron ore cost summary
2020 has been a bumper year for iron ore producers with low costs and high prices driving growth in the sector
$6,750
Country Report
Global iron ore supply summary 2021
2021 has been a spectacular year for iron ore producers with high prices and record margins but 2022 will present new challenges
$6,750
