Iron ore, steel, copper prices likely to become stable in few months

28 Aug 2021 CW Team

According to experts, commodities such as iron ore, steel, and copper have seen volatile movements previously, but their prices are expected to stabilise in over a few months.

Earlier, copper prices dropped by over 5%, steel prices declined by 10%, and iron ore prices declined by over 25%.

The falling prices of these commodities followed a sustained rally in the first half, which witnessed iron ore, steel, and copper reaching record highs. The rating agency Fitch Solutions Country Risk and Industry Research (FSCRIR) told the media that it believes the commodity prices will be stabilising for the remaining half of this year.

On Friday, the prices of iron ore were quoted at $151 per tonne for delivery at Tianjin Port, China. In May, the prices reached $239 per tonne. Iron ore with 62% ferrous quoted at $154.4 per tonne and freight China at Singapore Exchange Ltd (SGX).

According to FSCRIR, the supply of iron ore from global producers in the second half of 2021 and 2022 will be higher than 2020 and the first half of 2021, while Chinese steel producers are in low demand.

ING's think-tank ING Think, a Dutch multinational investment bank, said that the iron ore rout continued on SGX with prices falling below $160 per tonne.

ING Think said that as per the data, China is at risk of weaker demand for the remaining year. There are expectations towards strict enforcement of production curbs, which could result in deeper cuts in crude steel. It would weigh heavily on demand for iron ore.

Image Source

Also read: Stressed steel plants bought under IBC witness faster returns: CRISIL

Also read: NMDC slashes iron ore prices by Rs 200 per tonne

Infrastructure Urban

07 Nov 2025

Welspun Enterprises Wins 910 MLD Panjrapur WTP Contract

Welspun Enterprises (WEL), the infrastructure and energy arm of Welspun World, has secured a major contract from the Brihanmumbai Municipal Corporation (BMC) to design, build and operate a 910 million litres per day (MLD) Water Treatment Plant (WTP) at Panjrapur, Maharashtra.Valued at approximately Rs 31.45 billion, the project encompasses end-to-end civil, mechanical, electrical and instrumentation works, including the construction of a treated water sump and pumping station. Of the total value, nearly Rs 11.56 billion is allocated to Operations & Maintenance (O&M), with an additional..

Mitsubishi Power Wins Boiler Upgrade Contract for O Mon 1 Plant

Mitsubishi Power, a power solutions brand of Mitsubishi Heavy Industries, (MHI), has been awarded a contract to support the oil-to-natural-gas fuel conversion at the O Mon 1 Thermal Power Plant in Can Tho, southern Vietnam. As the OEM of the plant’s existing boiler, Mitsubishi Power will supply key equipment—including new gas burners—and implement a selective catalytic reduction (SCR) system to reduce NOx emissions and help the plant meet stricter environmental standards.The O Mon 1 facility includes two 330 MW units that commenced operations in 2009 and 2015, with all major equipment or..

Liebherr’s 10,000th XPower Wheel Loader Joins BERGER’s Fleet

BERGER Rohstoffe GmbH has welcomed the 10,000th Liebherr XPower wheel loader to its operations at the Schlag granite quarry in Passau. The milestone machine, officially handed over at Liebherr’s Bischofshofen plant in May 2025, underscores the long-standing partnership between BERGER, Liebherr, and the Beutlhauser Group. Equipped with Liebherr’s signature power-split travel drive, the new L 580 XPower is already delivering strong results under demanding quarry conditions.At the Schlag quarry, BERGER Rohstoffe processes approximately 200,000 tonnes of Bayerwald granite annually into high-qu..