Australia slashes 2015 iron ore forecast to $54.50

摘要

The Australian government has lowered its forecast for average iron ore prices in 2015 to $54.50/mt FOB, down 10% from $60.40/mt FOB earlier, according to the Department of Industry and Science’s latest quarterly update released Tuesday. An expected 10% increase in Australian iron ore exports in 2016 to 824 million mt will put additional pressure on prices, which the government predicts will average $50.90/mt FOB, down 8.5% from its March forecast of $55.60/mt FOB.