• Skip to main content

    CRU

    January 15, 2021

    CRU: Iron Ore in Steep Decline as Chinese Buying Interest Cools Off

    Written by Erik Hedborg

    By CRU Senior Analyst Erik Hedborg, from CRU’s Steelmaking Raw Materials Monitor

    In the past week, iron ore has witnessed its steepest price fall since July 2019. Declining steel margins in China and mills having successfully built up inventories, in combination with an upcoming Chinese New Year (CNY) holiday, resulted in weaker buying interest. Supply side issues failed to stop the price fall, and CRU assessed the 62% Fe fines price at $152.0 /dmt, a $15.5 /dmt decline w/w, on Feb. 2.

    Erik Hedborg

    Read more from Erik Hedborg

    Latest in CRU

    CRU: HR coil futures re-price 2027 forward curve

    CME Group’s hot-rolled coil futures have jumped higher as the loss of a reheating line at a large Southern mill have renewed domestic production issues. At market close on Oct. 12, the Q4'26 futures are now pricing in $1,295 per short ton (st) for HR coil, a month-over-month (m/m) increase of $63/st. For 2027, the forward curve is up $80 /st vs. September, at $1,207/st. For November 2026 through March 2027, prices are at an average just above $1,300/st.