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    August 26, 2021

    CRU: Iron Ore at $140/dmt – What’s Driving the Fall?

    Written by Erik Hedborg

    By CRU Principal Analyst Erik Hedborg and Senior Analyst Richard Lu, from CRU’s Steelmaking Raw Materials Monitor

    After reaching a new all-time high of more than $230 /dmt in May, iron ore prices held steady in the following months and traded in the $200-220 /dmt range for most of June and July. However, things have changed dramatically in August and the price has now dropped to $140 /dmt, as assessed by CRU on Aug. 24. This is in line with our expectations of the iron ore price declining in Q3, although the recent collapse has been steeper than we expected. So, what is driving this recent sharp fall in iron ore prices?

    Erik Hedborg

    Read more from Erik Hedborg

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