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Citigroup: average price of iron ore will fall to $80 in the fourth quarter

  • Tuesday, July 21, 2020
  • Source:ferro-alloys.com

  • Keywords:Citigroup average price iron ore
[Fellow]Citigroup said in a report that by the end of this year, iron ore inventory in Chinese ports may increase to 140 million tons.
[Ferro-Alloys.com] Citigroup said in a report that by the end of this year, iron ore inventory in Chinese ports may increase to 140 million tons, while the average prices in the third and fourth quarters were $100 and $80 per ton, respectively. The baseline forecast (indicative probability 60%) assumes that China's steel demand growth is basically flat year-on-year and that steel demand outside China will decline by 14% in 2020.
 
Source: translated by editor

  • [Editor:kangmingfei]

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