As reported by GMK Centre, a Ukrainian consultancy platform, the iron ore market recouped previous losses during the period February 27 2026 to March 27 2026. During the past month the average price has risen to $106.33 per tonne from $101.53 per tonne in February.

In the beginning of March, the market reacted to supply concerns. Due to a dispute between BHP and China Mineral Resources Group  (CMRG), restrictions had been placed on BHP shipments to China. In addition, the added combination of geopolitical tensions, trade disputes and changing shipping routes, due to the war in the Middle East caused disruption. And last but not least, a risk of disruption in Australia due to Cycle Narelle. 

Due to the BHP and CMRG fallout easing a shortage of BHP raw materials reduced in China. CMRG allowed traders to move previously banned BHP cargoes, easing supply panic, although disputes have still been ongoing between BHP and CMRG.  


In the short term the iron ore market remains volatile. Prices will be supported by supply disruptions due to the war in the Middle East and trade disputes in China, in addition to high energy costs.