Citigroup: iron ore will be dropped to $50 per ton
Published:2015-03-20 12:27:44    Text Size:【BIG】【MEDIUM】【SMALL
Summary: Iron ore price has fallen to $58.20 per ton in the chinese, the lowest since the data is released, it has fallen about 18.3% since the beginning of this year.


Citigroup is expected to 10 th, the price of iron ore will soon fell to around $50 per tonne, mainly because of the seaborne iron ore supply excess, but Chinese etc. requirements but will weaken, resulting in the overall supply and demand imbalance. Chinese imported iron ore price has fallen to $58.20 per ton, the lowest since the data is released, it has fallen about 18.3% since the beginning of this year. The stainless steel pipe effect is what results, we rub one's eyes and wait.
Citi's iron ore and steel trading director Mark Lyons (Mark Lyons) said, with the current level of profits of iron and steel, iron ore prices will likely fell to around $50 per tonne, but Citigroup temporarily still maintain the prediction of iron ore in 2015 the average price of $58 a tonne.
Lyons pointed out that, according to data provider Steelhome data, last week China main port of imports of iron ore inventories rose second consecutive weeks, as of last Friday has risen to 1.005 tonnes, reflecting the oversupply situation continues. In addition, the steel market demand situation is not optimistic Chinese etc..


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