BASED ON WORK undertaken by his group Citic Investment Research, Dr Alan Heap made this point during the recent Australian Journal of Mining's Iron Ore and Steel Forecast Conference in Western Australia. "Our forecast for Chinese crude steel production, which is the driver of Chinese demand, is very bullish and one of the most controversial aspects of the outlook for China I will present today," he explained. Dr Heap said the group was also forecasting a long term iron ore price of around 60 US dollars/tonne, but added it was open for debate.
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