You are here

Australia forecasts drastic drop in iron ore prices through 2018

Rally caused by speculative trading in China unlikely to last, govt says; export forecasts also trimmed
Tuesday, January 10, 2017 - 05:50

BT_20170110_SYIRON10_2683225.jpg
Iron ore collects in a stockpile at Fortescue Metals Group Ltd's Solomon Hub mining operations in the Pilbara region, Australia, in October 2016.

Sydney

AUSTRALIA on Monday forecast a dramatic decline in the price of iron ore - its most valuable export commodity - over the next two years to well below current market prices.

The Department of Industry, Innovation and Science forecasts iron ore to average US$51.60 a tonne this

sentifi.com

Market voices on:

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom