Through its 2021 Commodity Market Outlook (CMO) report, the World Bank confirms the upward trend in the price of iron ore that experts attribute to the combination of several favorable factors that should keep prices in their current range. during the rest of the year.

In its first CMO of the year, the World Bank reports that iron ore prices jumped 25% in the first quarter. But the increase is much greater when we refer to market prices during the month of April.
According to the Bretton Woods institution, the main driver of this price growth at the start of the year is Chinese demand. While its industry has more or less stalled in 2020, the Middle Kingdom currently consumes large amounts of iron for steel production.