National Australia Bank raised its forecasts for iron ore and metallurgical coal prices citing mine closures in Brazil for the former and constraints on both Australian exports and Chinese imports for the latter, it said Wednesday in its Minerals and Energy Outlook report. “Mine closures in Brazil -- in response to safety concerns around unsafe tailing damn infrastructure -- are likely to limit the growth of global supply in 2019,” NAB said, adding that the effects could continue for the next few years.
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