Spot iron ore prices (62 percent Fe content), which were on a downward path since 4Q11, saw an increase during 4Q12. Prices rose in 4Q12, driven by increased iron ore demand from Chinese steel mills.
Iron ore prices are likely to remain on the downward path for the coming years after increasing during 1Q13. Downward pressure on the iron ore price is expected in 2H13 due to a combination of anticipated lower steel output and continuous supply growth from the major iron ore miners.
Also in this report:
- Supply and demand
- Key developments
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Other 2012 Q4 Quarterly Commodity Bulletins: