Iron ore market in Germany started February with a significant decrease and continued this trend throughout the month. Iron ore, which was recorded at €121.87 in February, increased by €2.11 to €119.88 on February 8, but could not reach the price at the start of the month.
Sources anticipated that the downward trend seen in Europe would follow a similar course in the US, but the overall slightly upward trend would continue. Despite this, the iron ore market, which did not experience significant increases, followed a volatile course and closed February trading at €115.51.
SteelRadar data revealed that iron ore started March with a notable decline of €10, and was settled at €105.03 on March 1, remaining stable until the middle of the week. On March 6, German iron ore started to increase slightly and traded at €107.74 on March 7.
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