Iron ore prices to come under pressure near year-end on increasing China supply: BMO

摘要

Iron ore prices, especially for low-grade ore, are expected to come under notable pressure toward the end of the year as supply to China increases, according to analysts at BMO. The bank’s managing director of commodity research Colin Hamilton said in a note Monday that iron ore supply to China could be up as much as 140 million mt/year by the end of 2019, on a 62% Fe-equivalent basis, which, combined with production curbs through the winter months, was expected to exert pressure on prices.