Iron ore prices to rise from 2017: report
Australian govt report predicts price rebound as steel production rises and new supplies slow down
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THE world's biggest iron ore exporter called the bottom of the market, forecasting a steady rise in prices through 2020 after a decline next year.
Prices will average US$60 in 2017 and climb every year through 2020 to US$75 as demand growth accelerates and supply increases slow, Australia's Department of Industry & Science said in a quarterly outlook on Wednesday. It predicts iron ore will average US$53 this year and US$51 in 2016, paring estimates by as much as 2.8 per cent from June.
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