Prices
October 15, 2020
CRU: Iron Ore Price Pulls Back on Rising Supply and Port Stocks
Written by Erik Hedborg
By CRU Senior Analyst Erik Hedborg, from CRU’s Steelmaking Raw Materials Monitor
Iron ore prices have fallen by $8 /dmt in the past month as seaborne supply has been robust, even during the start of the new quarter, which is typically a weak supply period. As a result, arrivals to China have remained strong and port inflow (i.e. offloading material from vessels) is at close to full capacity. Port inventories have risen steadily in the past month, with Brazilian ore and non-traditional material being the largest contributor to the rising inventory levels.
