The decline in iron ore prices over the past two weeks turned into a debacle on Thursday, as fears of a new proposal emerged, coupled with fears that Chinese steel production could peak.
The North China Steel Index's benchmark 62% Fe ore fell 7.4% to $ 63 /t on Thursday, which is still at an 11-week low. Annual iron ore has lost 20.8% of its value.
Chinese imports account for about 70% of maritime trade in iron ore, and while last year's shipments matched a record import of over 1 billion tonnes, supply continues to grow in 2017, particularly from large producers in Australia and Brazil.
A new report from BMI Research predicts moderate growth in global iron ore production over the next five years, amid falling domestic production in China and slowing growth in Australia, driven by sharp increases in Brazil and India.
+38 (097) 475-20-95
|
|
|
Subscribe to news 
Metallurgy news
- 24 July 2026
23:00 Arequipa's net profit in the second quarter of 2026 increased by 34.5% amid improved operating performance 21:00 Samarco's sales in the second quarter of 2026 were up 23 percent compared to the first quarter of 2026, but will remain 1 percent lower than in 2025. 21:00 The United States will conduct full reviews of the PC market from 15 countries 20:00 Exports of sheet metal coils from the United States in May 2026 decreased by 2.1 percent compared to April 20:00 CRC imports to the United States in May 2026 decreased by 10.4 percent compared to April 16:00 Tangshan announces short-term steel production cuts 16:00 Vietnam's railway infrastructure development plans open up new opportunities for domestic steelmakers 15:00 Kumba iron ore production and sales fell in H1 2026
Publications
26.07 How to check the amount of metal before purchasing: three calculators to save your household budget 22.07 Ukrittya for warehouse logistics: when it’s easy to fail in times of need 21.07 The best furniture manufacturers for domestic clinics 21.07 Cookware Punching, Riveting and Edge Cutting Machine Choices for Export Production 21.07 LSTK-profile: a modern basis for prefabricated construction
