Price data, forecasts, insights and events for commodity markets

The transition of the iron ore market to a 61% Fe pricing benchmark is reshaping trading dynamics and leading participants across the value chain to reassess grade preferences, emerging demand centers and the growing importance of product quality in a decarbonizing steel sector, according to panelists speaking at the panel discussion “The benchmark transition ​and its implication from different voices​” at Iron Ore Decoded 2026, a conference co-organized by Fastmarkets and Horizon Insights.​

As the market entered May, spring demand has not lived up to expectations with weakness reported to have been compounded by a stock overhang.

With CP1 spot prices down to $9.50 and airlines still holding back, the real debate is about which layer of CORSIA credit supply the market is pricing, from theoretical potential to the credits airlines can actually buy.

Fastmarkets has calculated its Carbon Border Adjustment Mechanism (CBAM) Certificate Index at a price only slightly below the official average price for the first quarter of this year, when the regime was brought into operation.

Iron ore market participants said Simandou’s production ramp-up remains on track to meet market expectations, with growing exports from Guinea expected to influence freight markets, high-grade ore pricing and steel decarbonization strategies.

For most of the last decade, Alcoa has been shrinking itself into a better company. It sold assets, shut high-cost operations, repaired its balance sheet and preached capital discipline.