S&P cuts outlook for iron ore prices, eyes producer ratings

摘要

Standard & Poor’s Ratings Services (S&P) has cut its iron ore price forecast through 2017 and placed several producers’ ratings on negative CreditWatch. The agency now expects 62-percent metal content iron ore prices to average $45 per tonne c.f.r. China for the rest of 2015, $50 per tonne in 2016 and $55 per tonne in 2017, it said April 13. This compares with prior estimates of $65 per tonne for this year and next year, and $70 per tonne in 2017. AMM sister publication Metal Bulletin’s daily index for 62-percent iron ore fines stood at $50.78 per tonne April 14 after dropping to an all-time low of $47.08 per tonne c.f.r. Qingdao April 2.