Iron ore price, page-51818

From BHP, I know

We confidently state that the basic elements of our positive long–term view remain in place.

Population growth, urbanisation, the infrastructure of decarbonisation and rising living standards are expected to drive demand for steel, non–ferrous metals, and fertilisers for decades to come.

Over the course of the 2020s we expect: global population to expand by 0.8 billion to 8.5 billion; urban population to also expand by 0.8 billion to 5.2 billion; nominal world GDP to expand by $78 trillion to $165 trillion; and the capital spending component of GDP to expand by $15 trillion to $38 trillion.² Each of these fundamental indicators of resource demand are expected to increase by more in absolute terms than they did across the 2010s.

By 2050, we project that: global population will be approaching 10 billion; urban population will be approaching 7 billion; and the nominal world economy will have expanded to around $400 trillion, with one–fifth of that – i.e., around $80 trillion – being capex.

Below is a long read, but very useful.

https://www.bhp.com/investors/economic-and-commodity-outlook/2024/02/bhps-economic-and-commodity-outlook#ironore