Iron ore prices to maintain firm footing through Q2 peak demand season
This report is part of the S&P Global Commodity Insights' Metals Trade Review series, where we dig through datasets and digest some of the key trends in iron ore, metallurgical coal, copper, alumina, cobalt, lithium, and steel and scrap. We also explore what the next few months could bring, from supply and demand shifts, to new arbitrages, and to quality spread fluctuations.
Key stakeholders in Asian iron ore markets witnessed shifts in sintering feedstock preferences as the focal point revolved around margins, with seaborne prices expected to find firmer grips through the peak steel production season in the second quarter.
S&P Global Commodity Insights analysts forecast the Platts 62% Fe iron ore index, or IODEX, to average $120/mt CFR in 2023. The highest iron ore and steel prices of the year are expected to occur April-June, traditionally the strongest quarter due to resumption of construction activity in the Northern Hemisphere amid warmer weather.
