In 2020, the price of imported iron ore will increase significantly. In addition to the tight supply pattern, the depreciation of the U.S. dollar is also an important factor. Some experts predict that the U.S. dollar will depreciate by 30% in 2021. Due to the existence of factors such as the weakness of the US economy, the expansion of the fiscal deficit, the sharp rise of US debt, and the extremely loose monetary policy of the Federal Reserve, it is expected that the trend of the US dollar will continue to depreciate this year. Affected by this, the price level of iron ore imports this year will continue to be affected by the depreciation of the dollar. In addition, if the epidemic this year spreads to big iron ore producing countries such as Brazil and India, it may bring uncertainty to the global iron ore supply side. It is not ruled out that iron ore prices may fluctuate sharply as a result. The author predicts that this year's iron ore prices will show a high level of volatility.