Steel Producers Willing to Pay Premium Prices to Secure Higher-Grade Iron Ore: Report
- Higher-grade iron ore to expand its market share by 17.5 per cent by 2030
- An increasingly sought-after product for steel mills in Asia that commands a price premium
- ‘They [China] will buy more high-grade iron ore’ Fastmarkets expert
High-grade iron ore will increasingly become a sought-after product for steel mills as they strive to achieve higher quality production with fewer environmental emissions that can affect human health.
A growing segment of the global iron ore market, high-grade iron ore with an iron (Fe) content above 63.5 per cent is set to expand by 17.5 per cent over the decade of the 2020s.
This is according to Fastmarkets, a specialist price reporting agency for steel raw materials including iron ore, that publishes highly regarded pricing information and analysis on commodities markets.
“Around 2.5 billion tonnes of iron ore is mined and the seaborne market is about 1.45 billion tonnes, of which about 540 million tonnes is defined as high grade iron ore (definition, that is over 63.5% Fe),” Fastmarkets iron ore expert, Brian Levich, director of consultancy and special projects told Stockhead.
“This rises to around 634 million tonnes by 2030,” said Levich of the high-grade iron ore sector.
Fastmarkets has produced an in-depth report, ‘Understanding the high-grade iron ore market’, that takes a deep dive into the iron ore sector and its pricing dynamics.
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