By Chris Hinde | 01 August 2017
Iron ore prices have fallen sharply this year, but although the market has now turned, S&P Global Market Intelligence says it remains amply supplied even in the face of insatiable Chinese imports and growing steel output.
Iron ore prices have bottomed out after a sharp four-month correction following the significant price rises recorded in 2016. In its inaugural Commodity Briefing Service (CBS) report on iron ore, S&P Global Market Intelligence examines the prevailing market conditions.
The July CBS report notes that iron ore stocks remain elevated but are now stable. It highlights the mixed H1 2017 output from the "big four" producers, with Vale and BHP recording year-over-year increases of 8.3% and 4.7%, respectively, but falls of 2.0% and 1.3% from Rio Tinto and Fortescue Metals Group.
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