UBS hikes iron ore price forecasts again
The Bank raised its expectation for average prices this year by 12 per cent to $US83 a tonne after already raising the number from $US65 to $US74 immediately after iron ore miner Vale's tragic dam failure in Minas Gerais state on January 25 that killed hundreds and resulted in the resignation of chief executive Fabio Schvartsman.
UBS estimates Brazilian iron ore exports will be down by 43 million tonnes, to 367 million tonnes, from its original expectation this year.
Some 93 million tonnes of capacity is offline but UBS expects the Brucutu mine will be restarted and that other mines will be ramped up.It isn't ruling out a spike in prices as the cutback in shipments starts to be felt in China, but Mr Lawcock said current prices around $US85 a tonne would probably be high enough to induce enough replacement supply so prices should soften in the second half.
https://www.copyright link/business/mining/iron-ore/ubs-hikes-iron-ore-price-forecasts-again-20190328-p518g9
UBS hikes iron ore price forecasts again The Bank raised its...
-
- There are more pages in this discussion • 41,451 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add FMG (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$21.41 |
Change
-0.260(1.20%) |
Mkt cap ! $65.92B | |||
| Open | High | Low | Value | Volume |
| $21.52 | $21.67 | $21.30 | $150.5M | 7.000M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 93 | $21.40 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.41 | 12657 | 3 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| FMG (ASX) Chart |