Australia claims iron ore prices to fall next year
2019-12-19 17:05:08 [Print]
Australia said iron ore prices would fall to USD60/t in 2020 as the rebounding supply would ease the global tight supply, meanwhile reminding investors that the fall was not imminent.
In its quarterly report, the Australian government said it expects the average price to be USD63/t next year because of a rebound in global mine production after supply disruptions in Brazil and lower steel production in China. Although the forecasted price was a little higher than that in September, it decreases by 21% from the average level of this year.
In its quarterly report, the Australian government said it expects the average price to be USD63/t next year because of a rebound in global mine production after supply disruptions in Brazil and lower steel production in China. Although the forecasted price was a little higher than that in September, it decreases by 21% from the average level of this year.
