19
Oct
11:48
Fitch sees iron ore at $50 in 2016, 50mt capacity closure
Fitch expects iron ore prices to average at $50/tonne in 2016 with a strong likelihood of periods below this level, while 40-50 million tonnes/year of mining capacity is seen being closed.
“The most important iron ore market variable for 2016 is the rate and timing at which production leaves the market,” the credit rating agency says in a report sent to Kallanish. Around 180m t/y of high-cost Chinese iron ore production capacity has exited the market…
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Anonymous
Very good overview of the weekly steel market.
Anonymous