• Skip to main content

    CRU

    September 21, 2021

    CRU: Iron Ore Falls Below $100/dmt as Supply Improves

    Written by Erik Hedborg

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

    Iron ore prices have continued to fall with the commodity now reaching $93.0/dmt, a $31.0/dmt fall in the past week. Chinese demand remains weak and seasonal improvements in construction activity have thus far not materialized in any significant improvement in market conditions for steelmakers. At the same time, iron ore supply has been strong in the past week with global exports coming in at the highest level since the beginning of January.

    Erik Hedborg

    Read more from Erik Hedborg

    Latest in CRU

    CRU: Global finished steel prices diverge, US the rare bright spot

    CRU: Global finished steel prices have diverged in August, with longs softening while sheet and plate firmed in most regions. Weak construction demand persisted across most longs markets, with the US the notable exception. Higher sheet prices were driven by tightening supply in the US and reduced import attractiveness in Europe, even as APAC sheet prices declined. Plate prices were mostly firmer across APAC, stable to down in Europe, and continued climbing in the US.