We have raised our three year price forecast for 62% Fe sinter fines by 12%. We still think 2018 will be the low point of the cycle but our 2018 price forecast is now $62/t CFR (previously $55/t). As always, seaborne iron ore prices remain sensitive to small changes in the Chinese steel market, specifically, hot metal production and steel mill profitability. Both exceeded expectations in 2017 and both have potential to do so in 2018, implying upside risk to iron ore prices.
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Global iron ore markets long-term outlook data 2017 Q4.xls