26
Jan
15:20
Subdued China, new capacity seen depressing iron ore
Fitch expects iron ore to decline below $60/tonne in 2018 from a $75/t average in 2017 due to flat demand in China combined with around 50 million tonnes of new capacity entering the market.
The main sources of new supply are the ramp-up of Roy Hill and Silvergrass in Australia and Vale’s S11D mine. Major producers will be disciplined in bringing new supply into the market in order to try and balance demand, support prices and maximise profits, Fitch says.…
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Anonymous
Very good overview of the weekly steel market.
Anonymous