Iron ore price, page-51537

In commodity markets you have contracts for IO delivery in April, May, June etc... all of these contracts trade at different prices... that's the curve in my graph. So what this is saying is the long term price for IO, or demand for IO in the future is strengthening, especially relative to short term prices.

Take for example the crude oil market, you can lock in a price all the way out to 2032:
https://www.barchart.com/futures/quotes/CL*0/futures-prices

Note, there is a linkage between all months because if front month IO was really low and prices for delivery in 1 year really high, one could by front month IO, sell it in a years time (to lock in a price now). In that time that trader would take delivery of it, store it (at port) and offload it again in a years time when that contract settles... and if the cost to do all of that was low enough, a profit could be made.