fear of commerce war has brought the price of iron ore to the lowest level in the last 7 months

According to Mining News Pro - Reducing prices further reduces the income of major miners like Rio Tino, BHP and Vale, quoted by Keyvan Jafari Taherani.


Since prices began to retreat in March, the average price of iron ore was about $ 60. At that time, large-scale Chinese iron ore consumers opposed the increase in steel production, against the prospect of increasing production of mines (iron ore).


This week, Australia, the world`s largest exporter of iron ore, predicted prices would reach $ 50, as production and supply increased while China began to cut purchases. The National Bank of Australia announced in a note that reducing demand for steel in China over the next few years would undermine demand for iron ore.


Prices are said to drop below $ 60 by the end of the year. The main negative impacts on iron ore, pollutants and environmental constraints are China. The Chinese government has recently announced a three-year plan to tackle pollution and limit industrial production.

Prices are said to drop below $ 60 by the end of the year. The main negative impacts on iron ore, pollutants and environmental constraints are China. The Chinese government has recently announced a three-year plan to tackle pollution and limit industrial production.

Similarly, similar standards in the past, due to the limitation of steel production, have supported the premium price of iron ore products. The Goldman Sachs Group said commodity prices are expected to increase over the next 12 months as concerns over the trade warfare will be erased, although the bank did not have an explicit prospect of iron ore.