The high-grade iron ore market is largely aligned with iron ore as a commodity in general. In the real world, however, iron units are not fungible commodities – we are increasingly seeing in today’s market how ore grade and form can be significant and dynamic factors in value realization.

Due to the widespread efforts to reduce the environmental footprint of primary-route steel production, the high-grade iron ore market is growing in size and profile. Higher-purity ore types help to reduce emissions from traditional blast furnace ironmaking, while proposed routes to zero-carbon steel production rely on supply of high-grade iron ore. Increased transparency of trading in recent years in the high-grade segment has highlighted how these products’ prices respond to changes in market conditions.

In this whitepaper, Fastmarkets iron ore experts Jane Fan and Peter Hannah, with contributions from Fastmarkets analysts, explain the structure and dynamics of the market, with the aim of helping industry participants and outsiders alike understand better the different types of products that comprise the high grade segment, the specific factors that drive their market value and the prevailing pricing practices that influence how they are bought and sold.

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