Champion forecast long-term sustainable iron ore prices at about $85 per tonne in its expansion project feasibility study. On 6 November, the benchmark iron ore 62% Fe import price including freight and insurance at the Chinese port of Tianjin traded at USD 118.5 per metric ton (mt), which was 1.7% lower than on the same day in September. This is Helpful for You, Free Amino Acid Market 2020 Predictable to Witness Sustainable Evolution Over 2026. Singapore iron-ore data analytics firm Tivlon Technologies predicts even greater price gains, with $150 to be reached by October. Based on application, the global iron ore market analysis has been categorized into construction, transportation, medical, paints & coatings, others. 3 India Iron Ore Mining - Reserves, Production, Consumption, Trade and Demand 3.1 Reserves/Resources by State, Form and Grade 3.2 Historic and Forecast Production In 2017, global steel consumption increased mainly due to the stable economic growth worldwide. Looking further ahead, Vale’s previous pea… 2007-2021 Data | 2022-2023 Forecast | Price | Quote | Chart | Historical. global iron ore production is projected to grow at 2-2.3% annually as a result of substitution of China’s domestic production of iron ore with imports, particularly from Australia and Brazil This Market Review is a source for detailed information on the market situation. The key players operating in the global iron ore market are Rio Tinto (UK), Vale (Brazil), Fortescue Metals Group Ltd (Australia), BHP (Australia), ArcelorMittal (Luxembourg), Angang Group Mining Company (China), Anglo American (UK), Jianlong Group (China), HBIS Group (China), METALLOINVEST MC LLC (Russia), Cleveland-Cliffs Inc (US), EVRAZ plc (UK), and LKAB (Sweden). Iron Ore - data, forecasts, historical chart - was last updated on January of 2021. Iron ore forecast to ease to $US80-$US90/tonne in 2021. JPMorgan also recently forecast a major iron-ore deficit materialising this year, with demand outpacing supply by 100 million tonnes, while the global head of mining at UBS, Glyn Lawcock, expects prices to soon hit $140 per tonne. Based on form, the global iron ore industry has been divided into fines, lumps, pellets, and HBI/DRI. Falling JobKeeper demand and booming iron ore prices offer $16 billion improvement to Federal Budget. Additionally, the demand for iron ore is dominated by the increasing demand for medicines and paints, which is expected to propel the growth of the global iron ore market during the forecast period. Hematite is abundantly found across the globe, particularly in Brazil and Asia (China, India, and Australia), which is expected to play a vital role in the growth of the segment during the forecast period. RESEARCH: Strong demand, rising materials prices underpin bullish Chinese steel market The latest forecasts from Fastmarkets’ team of analysts are ready to view. “Australian iron ore earnings appear set to record an all-time high in 2020-21; strong demand from China and a recovery in American, Japanese, South Korean and European demand … How iron ore does in the future mostly rests on the Chinese demand for steel, asserts Citi. Global Iron Ore Long-Term Outlook Q1 2018 - Supply & Demand Analysis and Price Forecasts to 2040 - ResearchAndMarkets.com June 05, 2018 04:53 PM Eastern Daylight Time At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. Iron Ore 62% fe increased 10.24 USD/MT or 6.57% since the beginning of 2021, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Publish your articles and forecasts in our website. Iron Ore Demand Forecasts Determine future product demand for each country Current month Annual package. Citi’s best-case scenario assumes steel demand growing at an annual rate of 5% in 2020-21, which will see its iron ore price forecast surge to US$110/t in 2021. Why is green hydrogen, a source of renewable energy to watch in 2021? Additionally, the demand for iron ore is dominated by the increasing demand for medicines and paints, which is … Baseline Global Demand Forecast Under Disruption - Overall In the baseline forecast, global steel demand grows by 1.4% per annum to reach around 2.0 billion tons by 2035 However after applying the estimates of the impact of disruptors the projection is that global steel demand will grows by 1.1% per annum to reach 1.87 billion tons by 2035 In 2020, Vale could once again be the biggestswing factor for iron ore, but this time in the opposite direction. FOR MORE DETAILS : https://marketresearch1.water.blog/2020/11/10/iron-ore-market-demand-application-covid-19-analysis-share-forecast-2023-2/. “Chinese demand for iron ore has thus far proven to be relatively robust, … Despite this bullish outlook, the Australian government’s commodity research unit in the Department of Industry is pointing to easing prices for iron ore. By product type, the global iron ore market has been divided into hematite, magnetite, limonite, siderite, and others. Iron ore prices refer to Iron Ore Fine China Import 63.5 percent grade Spot Cost and Freight for the delivery at the Chinese port of Tianjin. In addition, anti-pollution measures in China and a slowing Chinese economy will likely weigh on demand. Is used to make steel for infrastructure and other construction projects. The growth is attributed to the increasing use of iron ore pellets. The global demand for iron ore is expected to stand at 2.41 billion metric tons by 2024, and the market is projected to exhibit a CAGR of over 5.32% during the forecast period, owing to the increasing use of steel in numerous end-use industries such as automotive, ships, building and construction. Chinese steel rebar prices have been softening, according to MetalMiner IndX data, despite rising iron ore prices, suggesting demand is lackluster. What's in the Demand Forecasts Service. The Trading Economics Application Programming Interface (API) provides direct access to our data. The EIU forecasts global steel production to increase by 4.3 percent in 2018. The global COVID-19 analysis on COVID-19 analysis on iron ore market report has been segmented based on product type, form, end-use industry, and region. > What is the outlook for Chinese iron ore demand over the next ten years? Specifically, the bank has lifted its 2020 forecast to $US96.70 a tonne from $US86, its 2021 forecast to $US85 from $US71.30 and its 2022 forecast to $US75 from $US65. Next year, interest rate hikes will prevent inventories from growing and will dampen steel demand. Historically, Iron Ore 62% FE reached an all time high of 188.90 in February of 2011. As for iron ore, China imported 1.06 billion tons in 2019, an estimated 70% of worldwide imports. Sharon will start the energy purchase group program, Why Coalescing Agent Market Booming Worldwide? The global demand for iron ore is expected to stand at 2.41 billion metric tons by 2024, and the market is projected to exhibit a CAGR of over 5.32% during the forecast period, owing to the increasing use of steel in numerous end-use industries such as automotive, ships, building and construction. Direct access to our calendar releases and historical data. For 2021, it forecast output of 315m to 335m tonnes, below the market consensus estimate of 353m tonnes. In other words, half of last year’s losses will be recovered in just one year,” Research Director Paul Gray said in the media release. “There is no way iron ore can be at $150 based on demand and supply fundamentals.” Morgan Stanley said prices look increasingly overbought, though it forecast a deficit, … The pellet segment accounted for the largest market share in 2018, followed by fines and lumps segments, and is expected to witness healthy growth throughout the forecast period. The biggest producers of iron ore are China, Australia and Brazil. Looking forward, we estimate it to trade at 132.33 in 12 months time. “Wood Mackenzie forecasts an accelerated recovery in shipments from Q1-20, resulting in a 30 million tonnes (Mt) rise in seaborne exports from Vale in CY 2020. It boosted the forecast for this year by almost 30% and also raised its 2021 outlook. Hematite, which has high iron content, is suitable for steelmaking compared to other product types, owing to which the segment accounted to a major share of over 30% of the global market, in 2018, and is expected to follow similar trend during the forecast period. Others include India, Russia, Ukraine and South Africa. Download historical data for 20 million indicators using your browser. Price forecasts out to 2030 • Global supply and demand analysis • Mine-by-mine operating costs: Key questions answered by this service: > What is the market outlook for the iron ore market? Iron ore exports from Australia have been supported by robust demand from China, said the report released in the lead up to Christmas. This still represents a 7-21 per cent lift in UBS’ iron ore forecast across the next four years. The analysts’ bear case assumes steel demand falling -1% year on year in 2020 and beyond. By political correspondent Brett Worthington. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds. Panelists polled by the firm expect iron ore prices to average US$74.40 in … The growth is attributed to the expanding construction industry coupled with the development of commercial infrastructure. Iron ore is vital for the production of Steel industry, to be subsequently used in Automotive, Construction, and other Industrial applications. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. Iron Ore is expected to trade at 151.51 USD/MT by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Australia's Fortescue Metals Group sees strong iron ore demand next year on solid Chinese demand as well as a post-COVID-19 recovery in other markets, … Global iron ore demand is expected to reach some 1,342 dry metric tons (62% Fe equivalent) by 2019. Its high-grade output fetches a premium over the benchmark iron ore price. Hence, in 2019, steel output is forecast to grow by a mere 0.5 percent. Thus, due to its simple extraction process, the cost of production reduces by 20–30% compared to other iron ore products. In its mid-year economic and fiscal outlook on Thursday, the government said it was forecasting that the price of iron ore would slump to $US55 a … Hematite due to its high iron content of over 56–64% Fe undergoes a simple crushing, screening, and blending process before being shipped for steel production. > Where are iron ore prices for pellets, fines and lump heading over the next ten years? Part 1: Consists of Metal Bulletin Research's (MBR) independent written study, called A Ten Year Strategic Outlook for the Global Iron Ore Industry, which is designed to help you examine the current volatility in the iron ore market, and to plan your strategy through the next 10 years with MBR's forecasts for supply, demand, trade and prices for the major types of iron ore pellets, fines and lump. Over at CBA, it is a similar forecast, with forecasts iron ore prices transitioning through the $90s and the $80s in time. In Australia, iron ore production is forecasted to decline from 2018-2027 by 0.4%. Iron Ore Price Outlook Iron ore prices continued to lose ground over the past month amid increased supply in the global market. Australian government commodity forecaster the Office of the Chief Economist (OCE) has raised its forecast for Chinese iron ore demand in 2020 but cut its projection for Brazilian exports by over a quarter. The construction segment in 2018 accounted for the largest market share in terms of volume and is expected to maintain its dominance during the forecast period. Demand. Zinc Market Analysis, Growth, COVID-19 Overview, Demand and Industry Forecast 2023, Automotive OEM Coatings Market Share, Overview, Trends and COVID-19 Analysis, Forecast to 2023, https://marketresearch1.water.blog/2020/11/10/iron-ore-market-demand-application-covid-19-analysis-share-forecast-2023-2/. To $ US80- $ US90/tonne in 2021 of worldwide imports and other Industrial applications study... 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