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Wood Mackenzie cuts iron ore price outlook

Published 01/30/2018, 11:39 AM
© Reuters.  Wood Mackenzie cuts iron ore price outlook
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  • As iron ore prices tick lower after a strong start to the year, Wood Mackenzie lowers its 2018 price forecast for seaborne iron ore to $63/metric ton, or 12% below last year's $71/ton average.
  • The consultancy warns of heightened risks to Chinese steel and seaborne iron ore in 2018 including Chinese environmental policy, steel restructuring, supply side response, investment revival and a tightening industry structure.
  • The Australian government said earlier this month it expected a 20% decline in iron ore prices this year, hurt by rising global supply and cooling demand from China, although most private forecasts have seen the price remaining largely flat.
  • Relevant tickers include RIO, BHP, VALE, CLF, OTCQX:FSUMF, OTCQX:AAUKF, OTCPK:AAUKY, OTCPK:GLCNF, OTCPK:GLNCY
  • Now read: Cleveland-Cliffs: Further Discussion Of Q4 Results


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