The sources told SteelRadar that there is consensus that the global iron ore market will continue its downtrend, and that the downtrend is already expected in Germany.
Having started February at €121.87 in Germany, down €3.3, iron ore prices fluctuated throughout the month, but continued their downward trend with significant changes in the overall market and started March trading at €105.03.
According to SteelRadar data, German iron ore prices increased slightly in the week to March 1, hitting a weekly high of €107.77 on March 4. In the week to March 11, the steel industry in Germany experienced significant price declines, with iron ore prices falling in sync with this decline.
Starting at €3.42 as of March 11, the downward trend in German iron ore prices was characterized by a decline to €101.93 on March 14.
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