Iron ore price, page-14815

Moody’s io higher for longer from overnight. Bit more reliable than your average analyst.


”The current supply-demand imbalancein the iron ore market has led analysts to make upward revisions to their price-sensitivity ranges on the back of tight supply from Brazil and Australia, with mining giant Vale still the most important driver of balance globally.In a research report on Monday, Moody's Investors Services increased its 62%-Fe iron ore price benchmark range to US$60-90/t from the US$45-70/t announced earlier in the year."Our new price ranges for iron ore reflect our expectation that only limited incremental new capacity will be added over the next few years," Moody's senior VP Carol Cowan said in the report. "While higher output from major global miners and Chinese domestic producers will see prices go down somewhat, supply will not fully recover in the near future," Cowan added.Moody's sees the imbalance slowly improving this year and next, despite an expected increase in year-on-year output from Australia's top iron ore producers BHP, Rio Tinto and Fortescue in 2019.In the case of Vale, increased supply will depend on the miner's ability to restore production at the mine where a dam collapsed in January, in Brumadinho, Minas Gerais state, Moody's said.”