Long-term seaborne supply surplus clouds iron ore outlook

摘要

Contraction in port warehouse stocks in China and record trading volume in derivatives on Dalian Commodity Exchange are the likely reasons for smart rise in iron ore prices to $63 a tonne from the decade low of $47.08 a tonne on April 2. Not only are.current prices well below the record $185 a tonne in January 2011 a fallout of disruptions.ln supply from then the world's third largest supplier of steel making ingredient India and large nervous buying by China, but most experts doubt their sustalnability.