According to SteelRadar data, Indonesia's iron ore reached a new all-time high price of $142 on January 4. Prices had been on an upward trend since October 30, 2023, but this trend ended with a sudden price spike in January and was replaced by a downward trend.
Prices fell gradually from January onwards, reaching $135 in January, $125 in February and $109 in March, respectively.
During the week of March 12-20, prices were $109-113 with minimal fluctuations.
As of 2024, it can be predicted that the downward trend, which started and still continues, will continue for a while.
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