Ian Waldie | Bloomberg via Getty ImagesA freight train carrying iron ore travels along a rail track towards Port Hedland, Australia, on Monday, March 18, 2019.
- A confluence of dwindling iron ore supply, surging steel demand and potential short-term disruptions caused by storms hitting Western Australia have led commodity analysts to raise concerns.
- Lower supply estimates from Vale, the world's second-largest iron ore producer, have furthered these fears, with the Brazilian company recently curbing its 2020 production guidance and reducing its guidance for next year.
Iron ore futures on China's Dalian Commodity Exchange surged by almost 10% on Friday to an all-time high, crossing the 1,000 yuan ($152.95) per ton mark for the first time in history.
A confluence of dwindling iron ore supply, surging steel demand and potential short-term disruptions caused by storms hitting Western Australia have led commodity analysts to raise concerns.
