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CHINA STEEL RAW MATERIALS & FUELS SUMMIT: Iron ore to remain at $40-70/t cfr in 2017
Iron ore prices are likely to stay in the range of $40-70 per tonne cfr China next year, participants at an iron ore industry conference in Beijing last week were told.
Metal Bulletin was at the China Steel Raw Materials & Fuels Summit, cohosted by local data provider Custeel and north China’s steel major Shougang. Speakers from mining companies, traders and mills at the conference were by and large confident that iron ore prices would not fall below $40 per tonne cfr China and may touch as high as $75 per tonne cfr in 2017. Pan Guocheng, president of China Hanking, one of the country’s major private domestic iron ore miners, projected an average iron ore price of $60-65 per tonne cfr for the next...