Although iron-ore will remain supported by renewed optimism over easing trade tensions, BMI says the risks remain skewed to the downside owing to looming steel production curbs in mainland China.
BMI explains that iron-ore with 62% iron content at Qingdao port is currently hovering at about $94.70/t as of May 6, with the year-to-date average in 2025 so far being $96.50/t.
While maintaining relative resilience in early 2025, reaching a year-to-date high of $102.90/t on February 21, supported by weather-induced supply disruptions and Chinese demand optimism, iron-ore prices failed to sustain positive momentum, consistently trending below $100/t throughout March and April.