2013 spot ore prices to hover around $120/mt: WoodMac

摘要

Iron ore prices are forecast to hover around the $120/mt level in 2013 and a potential supply squeeze could arise by 2017 as Chinese domestic production comes off, Wood Mackenzie's lead analyst Lip Ban Soh said Wednesday. Speaking at the Mines and Money conference in Sydney, Soh said Chinese domestic producers would struggle to make profits at current prices as most have operating costs of around $100-120/mt.