19
May
01:00
Fitch lowers iron ore price assumptions as higher output to outweigh mine closures
Fitch has lowered its spot iron ore price assumptions down from $65/tonne and $75/t for 2015 and 2016 respectively to $50/t cfr for both years. Its long-term price assumption is down $10 to $70/t.
This comes as the credit rating agency expects increased production despite falling prices at BHP Billiton, Rio Tinto and Vale to outweigh the impact of any shutdowns among higher-cost miners in the near term. Fitch also sees annual crude steel output growth in Chi…
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Anonymous
Very good overview of the weekly steel market.
Anonymous