Currently viewing Global edition

Iron ore to come back down to earth

An overdue correction in the price of iron ore appears to have started, ending a six-month windfall for miners of the steel-making raw material, but how far will it fall?

Iron ore to come back down to earth Iron ore to come back down to earth Iron ore to come back down to earth Iron ore to come back down to earth Iron ore to come back down to earth

The landing: Iron ore prices have been sky high (relative to expectations) for much of 2017 (photo: defenseimagery.mil)

The immediate outlook is for a dip below US$70 per tonne in the next few days, and then below $60/t, perhaps by the end of the year, as China’s steel mills cut production during the northern winter.

topics

loader