13
Dec
15:27
Iron ore seen declining in 2017 on oversupply
Iron ore remains fundamentally oversupplied and its price will fall back to $50/tonne in 2017, according to Fitch. The steelmaking raw material’s recent strength is seen as a result primarily of the large fall in Chinese domestic output this year.
The credit rating agency sees a combined 185 million tonnes of new low-cost iron ore supply entering the market over the next five years. Net of demand increases and mine depletions this will require around 80mt …
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Anonymous
Very good overview of the weekly steel market.
Anonymous