Iron ore, steel, copper prices likely to become stable in few months
Steel

Iron ore, steel, copper prices likely to become stable in few months

According to experts, commodities such as iron ore, steel, and copper have seen volatile movements previously, but their prices are expected to stabilise in over a few months.

Earlier, copper prices dropped by over 5%, steel prices declined by 10%, and iron ore prices declined by over 25%.

The falling prices of these commodities followed a sustained rally in the first half, which witnessed iron ore, steel, and copper reaching record highs. The rating agency Fitch Solutions Country Risk and Industry Research (FSCRIR) told the media that it believes the commodity prices will be stabilising for the remaining half of this year.

On Friday, the prices of iron ore were quoted at $151 per tonne for delivery at Tianjin Port, China. In May, the prices reached $239 per tonne. Iron ore with 62% ferrous quoted at $154.4 per tonne and freight China at Singapore Exchange Ltd (SGX).

According to FSCRIR, the supply of iron ore from global producers in the second half of 2021 and 2022 will be higher than 2020 and the first half of 2021, while Chinese steel producers are in low demand.

ING's think-tank ING Think, a Dutch multinational investment bank, said that the iron ore rout continued on SGX with prices falling below $160 per tonne.

ING Think said that as per the data, China is at risk of weaker demand for the remaining year. There are expectations towards strict enforcement of production curbs, which could result in deeper cuts in crude steel. It would weigh heavily on demand for iron ore.

Image Source


Also read: Stressed steel plants bought under IBC witness faster returns: CRISIL

Also read: NMDC slashes iron ore prices by Rs 200 per tonne

According to experts, commodities such as iron ore, steel, and copper have seen volatile movements previously, but their prices are expected to stabilise in over a few months. Earlier, copper prices dropped by over 5%, steel prices declined by 10%, and iron ore prices declined by over 25%. The falling prices of these commodities followed a sustained rally in the first half, which witnessed iron ore, steel, and copper reaching record highs. The rating agency Fitch Solutions Country Risk and Industry Research (FSCRIR) told the media that it believes the commodity prices will be stabilising for the remaining half of this year. On Friday, the prices of iron ore were quoted at $151 per tonne for delivery at Tianjin Port, China. In May, the prices reached $239 per tonne. Iron ore with 62% ferrous quoted at $154.4 per tonne and freight China at Singapore Exchange Ltd (SGX). According to FSCRIR, the supply of iron ore from global producers in the second half of 2021 and 2022 will be higher than 2020 and the first half of 2021, while Chinese steel producers are in low demand. ING's think-tank ING Think, a Dutch multinational investment bank, said that the iron ore rout continued on SGX with prices falling below $160 per tonne. ING Think said that as per the data, China is at risk of weaker demand for the remaining year. There are expectations towards strict enforcement of production curbs, which could result in deeper cuts in crude steel. It would weigh heavily on demand for iron ore. Image Source Also read: Stressed steel plants bought under IBC witness faster returns: CRISIL Also read: NMDC slashes iron ore prices by Rs 200 per tonne

Next Story
Infrastructure Urban

Allcargo Gati Strengthens Doddaballapura’s Industrial Growth

Doddaballapura, once renowned for its silk sarees, has evolved into a major industrial hub, housing an Apparel Park and diverse manufacturing units producing textiles, paints, and machinery. The region’s strategic location and robust infrastructure have attracted national and international companies, boosting Karnataka’s economy.For the past four years, Allcargo Gati has been a key logistics partner, ensuring efficient distribution of goods across India. With a structured supply chain strategy—65 per ent to the north, 15-20 per cent west, 10-15 per cent east, and 5 per cent south—the c..

Next Story
Infrastructure Transport

Kolkata Metro to Suspend Green Line Services on March 8-9

The Kolkata Metro Railway has announced a complete traffic block on the East West Metro Corridor (Green Line) on March 8 and 9 for testing the Communication-Based Train Control (CBTC) system. Services will also be partially disrupted on the evening of March 7 and the morning of March 10. The Green Line, India’s first underwater metro tunnel and home to the country’s deepest metro shaft, runs from Howrah Maidan to Salt Lake Sector V. This line’s first phase was inaugurated in 2020 by then Railway Minister Piyush Goyal. Additionally, the Kolkata Metro recently introduced a paper ..

Next Story
Infrastructure Urban

India and Nepal Sign MoU to Strengthen WASH Sector Cooperation

India and Nepal signed a Memorandum of Understanding (MoU) on March 3, 2025, to enhance cooperation in the Water, Sanitation, and Hygiene (WASH) sector, including waste management. The signing ceremony took place at Sushma Swaraj Bhawan in New Delhi, attended by India’s Union Minister of Jal Shakti, CR Patil, and Nepal’s Minister of Water Supply, Pradeep Yadav. The agreement aims to foster collaboration between the two countries to improve access to clean drinking water and sanitation. It outlines key areas of cooperation such as capacity-building programs for Nepali personnel, techno..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?