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Raw Materials for Metallurgical Production
ArticleName Iron ore market review
DOI 10.17580/cisisr.2019.01.01
ArticleAuthor A. Löf, M. Ericsson, O. Löf

Luleå University of Technology (Luleå, Sweden):

Anton Löf, Director, e-mail:
Olof Löf, Senior Analyst


RMG Consulting (Stockholm, Sweden):

Magnus Ericsson, Adjunct Professor


Iron ore prices remained at relatively high levels during 2018. Premia paid for high quality ores increased and are substantial. Global iron ore production is estimated to grow by around  2% in 2018. Sharp cuts in production of un-beneficiated ore have taken place in China during2018. Demand for iron ore in general and for high grade products in particular has however increased. Future developments in China, both in the steel and iron ore industries, will be crucial to the global iron ore markets in 2019. This review is written in March 2019 and incorporates as much as possible figures and trends for the full year 2018, in some cases this is however not yet possible.

keywords Iron ore, global markets, prices, export, import, China, forecast

1. OECD Steel Market Developments Q4 2018, January 11th 2019.
2. International Monetary Fund, World Economic Outlook UPDATE, January 2019.
3. World Steel Association press release, February 2019 Crude steel production, March 26th 2019,
4. National Bureau of Statistics China, 2019,
5. World Steel Association, 2019, op. cit.
6. World Steel Association, Steel Statistical Yearbook 2018.
7. Löf, A., Ericsson, M. and Löf, O., Iron Ore Markets Improve in Most Regions, Engineering & Mining Journal, October 2018, p. 55.
8. National Bureau of Statistics China, op. cit.
9. Bundesministerium für Nachhaltigkeit und Tourismus, Reichl, C., Schatz, G., Zsak, G. World Mining Data 2018 Vol. 33, Vienna 2018,
10. 16 company reports, annual and quarterly for all companies in list various dates 2018 and 2019.
11. Australian Government, Department of Industry, Innovation and Science, Office of the Chief Economist, Resources and Energy Quarterly, March 2019.
12. Sinferbase, Relatório Decembro 2018,
13. Vale Day December 6 2018,
14. Updated version of Löf, A., Ericsson, M., and Löf, O. Iron ore markets 2018, Nordic Steel & Mining Review (Bergsmannen). Vol. 202, No. 7, 2018, 4-10.
15. Kaunis Iron AB,
16. World Steel Association, Shart Range Outlook, October 2018.
17. World Steel Association, Short Range Outlook, April 2018.
18. MIDREX 2017 World Direct Reduction Statistics,
19. See for example Morgan Stanley Research, Metal &ROCK, Global Foundation, The Price Deck — 2Q 2019, March 25th 2019.

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