The RBA economists have a pessimistic view of the future of the IO price.
"In minutes released this week, Reserve Bank of Australia policy makers said the outlook for iron ore was changing:
"Iron ore prices had been supported at higher levels because of sustained strong demand for steel in China. However, prices were expected to fall in the period ahead because of the ongoing expansion of global iron ore supply following an extended period of strong investment.
"Members also noted that Chinese steel production per capita was likely to be close to its peak and that growth in Chinese steel production would not add much to global demand for iron ore in the future."
Read more: http://www.copyright link/business/...hina-us-worries-20170921-gymh0p#ixzz4tOWkhIo8
Iron ore price, page-3181
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