What is iodex iron ore?

What is iodex iron ore?

What is IODEX? Platts Iron Ore Index, or IODEX (IODBZ00), is a benchmark assessment by S&P Global Commodity Insights of the spot price of physical iron ore. The assessment is based on a standard specification of iron ore fines with 62% iron, 2.25% alumina, 4% silica and 0.09% phosphorus, among other gangue elements.

What is the highest iron ore price?

Historically, Iron Ore reached an all time high of 229.50 in May of 2021.

How much does iron cost in 2021?

The price saw dramatic drops in the past decade, from 139.87 U.S. dollars per dry metric ton unit in March 2013 to 40.50 U.S. dollars per dmtu in December 2015. Since then, the price has increased gradually to 214.14 U.S. dollars per dmtu as of July 2021, before dropping sharply in August 2021.

Why is iron so cheap?

Iron eventually became the least expensive metal on Earth. That’s because iron, as found in ores, is our most plentiful element by mass. Iron makes up most of Earth’s core, which produces Earth’s magnetic field, protecting us from cosmic rays and solar wind.

Will iron ore prices rise?

The iron ore price is forecast to remain above $US100 per tonne (t) into 2023, as Chinese demand increases and supply remains stable, according to Fitch Solutions. The credit rating agency previously forecast the iron ore price would average $90/t in 2022, before falling to $75/t in 2023.

Will iron ore prices rise again?

The price bounce will send iron ore profits higher even if some of the gains can be held for the year. Macquarie, which is forecasting a price of $US120/t for the year, said current spot prices suggested Rio Tinto’s earnings could be 35 per cent higher in 2022 and up to 90 per cent stronger on forecasts for 2023.

Who is the lowest cost iron ore producer?

Mackenzie also noted that BHP has become the world’s lowest cost iron ore producer, whittling costs down to $12.86 per tonne with scope to trim them still further, as it reaped a 40 percent jump in realized prices to $77.74 from $55.62 in the first-half of the 2019 calendar year.

What is the price of iron in India?

Irons Price list in India (May 2022)

Panasonic NI-E510 TDSM Steam IronBlue and White Rs.2,143
Sahara Q Bellaz Dry Iron White Rs.599
Philips GC1621 Steam Iron Rs.2,110
Orpat 687 CL D Rs.1,150

Which country produces the most iron ore?

Global production of iron ore is estimated to have been 2.4 billion tonnes in 2020, only slightly lower than the 2.5 million tonnes produced in 2019. Australia is the leading global producer of iron ore, accounting for 38% of the total production.

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