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Iron Ore Sales
Experts call iron ore the best-performing commodity of 2020. Right now, the iron ore futures cost about $127 per ton which is supported by the constant demand from steel producers. This is a multi-year high price and it is caused by growing demand from China due to the nation’s infrastructure and property boom, as well as a temporary reduction in iron ore export of Brazil, which has had to contend with several disasters that have severely disrupted its output. The biggest producers of iron ore in the world are China, Australia, and Brazil. An interesting fact that China apart from being one of the largest producers of iron ore is one of its biggest consumers at the same time. In the European region, most of the iron ore comes from Ukraine and Russia. Because of the abovementioned reasons and lockdowns due to a coronavirus pandemic, most of the demand for iron ore has shifted towards Asia. When analyzing the market it is also important to remember that the quality of iron ore depends on the cost and availability of relevant beneficiation capacities which divides the market with products of different quality.