Australian government seesore topping $67/mt by 2020

摘要

Despite a conservativeview on Chinese steel output, theAustralian government expects iron ore pricesto bottom out at $50/mt FOB Australianext year before climbing to $67.20/mtFOB by 2020, as excess supply is removedfrom the market due to low prices.But the recovery in iron ore prices isnot expected to be driven by significantsteel production in China. In its Septemberquarter report released Wednesday, theDepartment of Industry, Innovation andScience noted its expectation that Chinesesteel production will plateau over the next five years at an average of around 806million mt/year between 2016 and 2020.