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The iron ore market moves fast, driving critical industries like steelmaking. Shaped by factors such as supply, demand, geopolitics and sustainability, it presents continuous challenges for businesses aiming to stay ahead.
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Low margins at Chinese steelmakers so far in 2023 have boosted demand for lower-grade iron ore products, which has led to record iron ore shipments from Australia’s FMG in its financial year to June 30, sources told Fastmarkets this week
Seaborne iron ore prices fell further on Friday, July 28 due to more concerns for crude steel production cuts in China
The share of direct-reduced iron (DRI) being used by Indian induction furnaces and foundries has grown over the last month, despite efforts by a strong scrap lobby to use more of the secondary raw material to reduce carbon emissions in the country
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