FOCUS: Iron ore price rebound doubtful amid bearish demand outlook

September 29, 2021 / www.metalbulletin.com / Article Link

Market participants are anticipating a very bearish demand outlook for the iron ore market and are doubtful of any form of price rebound until at least the first quarter of 2022.

Weak demand for iron ore has been the primary driver of slumping seaborne cargo prices. This is largely due to ongoing steel-output curbs in several provinces in China, an impact that is likely to intensify with the latest release of the country's "Two-High" energy and emissions policy.
Bearish demand outlook up to first quarter of 2022
The iron ore market has already been stricken by weak demand since July after market chatter emerged about the Chinese government's intervention to keep this year's steel output from exceeding last year's.
Several provincial governments in China have since gone ahead with the curb on steel outputs for the rest of 2021 or have taken measures to keep output levels consistent with those of the previous year, despite no official policies having yet been announced.

For instance, the Guangxi provincial government held a meeting at the end of August...

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