Commodities prices are based on supply and demand.
The 2020 Chinese stimulus package created fake demand for IO that never actually existed and pushed the price to insane levels. That stimulus has ended and the real demand is around 30% less than last FY.
Eventually the price will go back up if the demand is there.
'Eventually' can mean 20-30 years. The last 15 years is totally atypical and due to massive Chinese stimulus packages that resulted in over-building. It wasn't real market demand.
https://www.researchgate.net/figure/Iron-ore-price-in-comparison-by-average-iron-ore-price_fig1_284727251
FMG Profitability when IO at $50-60USD?, page-69
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| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
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