IN 2018, Iron Ore Prices are Estimated to Decline to US $ 60
External News - 16 Feb 2018
Iron ore prices are expected to weaken towards US $ 60 per ton in 2018. Based on the National Australia Bank (NAB) report cited by Bloomberg on Thursday (2/11), China's steel demand growth tends to experience a slowing trend due to a decline in construction activities in the largest consumer country. global. The NAB analyst team explained that the growth in house prices in Panda Country has slowed significantly and construction activity may cool. The continuation of this trend will slow the increase in steel consumption in the end of 2017 and 2018. The slowdown in China's steel consumption growth has helped reduce the absorption of iron ore as the main raw material. "We estimate the price of iron ore in 2018 tends to weaken towards US $ 60 per ton," said the NAB analyst team, as quoted by Bloomberg, (2/11). At the close of trading on Thursday (11/2), the price of 62% iron ore in the Dalian exchange the most active contract in January 2018 rose 4.5 points or 1.04% to 437 yuan (US $ 66.15) per ton. Throughout 2017 prices dropped 32.97% from the close of December 30, 2016 at 652 yuan (US $ 93.95) per tonne.
