Iron ore surged, and the largest exporter expects prices to fall in 2017
with the surge in iron ore prices this year, many institutions and banks expect prices to fall in 2017. Even Australia, the world's largest exporter of iron ore, believes that the rise in iron ore will gradually subside with the emergence of these new commercial packaging materials and utilization
according to the mid year budget update that the high temperature in Australia on Monday (December 9) will activate these smart technology cloth, the government assumes that the iron ore price will drop from the recent average of $68 per ton to 55 per ton in the same quarter of next September. Earlier, banks such as Morgan Stanley and Macquarie Group also expected iron ore prices to fall in 2017
the price of iron ore soared by nearly 90% this year. Macquarie predicts that the price will fall to the US dollar range next year, and the supply will exceed the demand; Morgan Stanley listed iron ore as one of its least favored three metal assets @c running distance 1; Citi believes that the rise of commodities this year is a fluke
the Australian government said, "the communication with the industry shows that there is significant uncertainty about the driving force of recent price fluctuations, and the only consensus is that the current high price may be unsustainable. Although the industry is widely expected to partially reverse the recent increase, there is no consensus on when to fall back and how much to fall back."
according to the agency quotation, the price of 62% grade iron ore in Qingdao port was reported at US $81.49 per ton last Friday (December 16); Earlier this month, it reached $83.58, the highest in more than two years
since the end of September this year, the price of iron ore has increased by more than 40%, and is moving towards the largest quarterly profit margin since at least 2008, with an increase of degrees. Australia's assumption of iron ore prices is based on the prices of its domestic ports