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    CRU

    May 20, 2026

    CRU: Iron ore firms on surging costs

    Written by Liz Gao

    This item was first published by CRU. To learn about CRU’s global commodities research and analysis services, visit www.crugroup.com.

    After a brief dip last month, iron ore prices have resumed their upward trajectory as the war in the Middle East escalates. Elevated costs have established a new pricing norm, keeping iron ore prices firm even as current levels exceed what supply‑demand balance would justify. Meanwhile, Simandou is finally gaining momentum after a slow start. Quality remains the decisive factor for steelmakers sourcing from the seaborne market, reshaping trade flows.

    Liz Gao

    Liz Gao

    Read more from Liz Gao

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