Iron Ore Price Rises Amid Global Supply Shocks & Growing Steel Demand

iron ore price

Global supply shocks have pushed the iron ore price up significantly in 2019, reaching a five-year high of $126 per tonne earlier this month. This puts the price of iron ore up 70% so far this year. Meanwhile, China’s iron ore futures hit the highest level since 2013, thanks to the nation’s growing demand for the steelmaking material.

The increase in steel production paired with the slumping supply is creating a buzz among analysts, who believe that iron ore price isn’t done rallying. While this isn’t great news for Chinese steelmakers who have openly complained about ...

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