The Pricing Outlook For Iron Ore In 2023


According to the experts, เว็บตรงสล็อต  เกมทำเงินในยุคสมัยใหม่ที่นักเดิมพันให้การยอมรับมากที่สุด คงจะหนีไม่พ้นเกมสล็อตออนไลน์ สร้างรายได้แถมยังมีขั้นตอนที่ไม่ยุ่งยาก ไม่เหมือนกับเกมอื่นๆ เว็บเกมออนไลน์สล็อต ไม่มีประสบการณ์ สามารถเข้ามาร่วมสนุกได้ โดยไม่มีข้อจำกัด ทำความเข้าใจง่าย มีระบบทดลองเล่นฟรี ไม่ต้องฝากให้ได้เล่นก่อน ศึกษาให้เข้าใจแล้วค่อยลงทุน รวม เว็บ สล็อต ฝาก ถอน ไม่มี ขั้น ต่ำthe new demand and supply factors are going to impact the iron ore price in the following year.

Right now, the iron ore price is US$109.50 per ton after a 2.8% gain overnight. As per the Trading Economics data, there is a boost of 23.7% over the past month. And this has lifted the fortunes of many ASX mining shares, especially the iron ore pure play Fortescue Metal Group Limited.

The Fortescue prices hike up to 25.4%, and ASX iron ore shares hike up to 21%. And creating this new share price flexibility, China is easing the restriction under the COVID ZERO POLICY.

This means that some manufacturers will be able to resume work, and therefore the demand is increasing for iron ore. Australian exports have also increased this year due to high Iron Ore Importers, and partially because the Brazilian declined exports.

Brazil is the chief competitor in the global iron ore supply. But the Vale Mine Disaster in 2019, impacts production in the country and meant more market share to Australia.

Iron ore pricing in 2022

The price of iron ore fell from a peak of about US $160 per ton in march of 2022. The big reason for this fall was the Covid-zero policy by China. This shut down many industries for a long time during the 2022 time period. Lockdown is the main reason for the fall in iron ore prices.

Although, things are getting back to normal as the protest against the lockdown argued the government of China to ease some rules and relax a bit. But it is a bit too early to expect the iron ore pricing will fly high.

 How much the iron ore be worth in 2023?

ING expects the price of iron ore to slide to 62%, which is US $85 per ton in the first quarter of 2023. A slight improvement is also expected of about US $90 per ton throughout the second and third quarters of the year. The estimated expectations are based upon the further ease of the COVID restrictions by China. The price of iron ore can also reach above US $90 per ton in the final quarter of the year.

Why the expectation by ING is low for iron ore price?

There are a few factors on the demand and supply sides of the equation that will likely reduce the price of iron ore in the year 2023. On the supply side, the three biggest miners in Australia built new mines in recent years and are ramping up the production of iron ore.

BHP’s 80 mtpa South Flank mine began its operation in 2021 and is the largest among others. There are other mines, including Rio’s 43 mtpa Gudai Darri mine, which started its operation in June 2022, and Fortescue’s 30 mtpa Eliwana mine, which was started in 2020.

And on the demand side, China continues to cap crude steel output and looks to replace the older steel capacity with the electric arc furnace capacity, including as a part of the decarbonization plans.


China’s Covid Zero policy plays a vital role in the fall of iron ore pricing, and the ease of restriction in the policy helps iron ore to reclaim its position. But as per the report and prediction, it is safe to say that the iron ore prices will hike in 2023 and will be stable at the end of the year if the situation stays the same as now and all the production, supply, and demand factors works with each other as the bond.