Australia maintains outlook for iron ore prices; marginally improves met coal

摘要

Sydney—The Australian government Sept. 28 maintained its resilient price forecast for iron ore in the latest edition of the Resources and Energy Quarterly, while marginally lifting its outlook for the lagging metallurgical coal market. The iron ore price forecasts were unchanged from the June edition of the report, while met coal contract price forecasts for 2020, 2021 and 2022 were lifted by 1%, 2%, and 1%, respectively. For those same years, the met coal spot price forecast was lifted by 2%, 1% and 0%. Forecasts for Australia's iron ore export volumes were tweaked marginally in the latest report, while met coal volumes were cut by as much as 6% for 2020.