According to Mining News Pro - Keivan Jafari Tehrani said: “Iron ore market will remain high in value due to technical, fundamental and behavioral analysis short after the Chinese New Year but Australia will soon compensate the market.

Jafari Tehrani explained: “Unfortunately, analysis in Iran and few other countries are technical and fundamental but behavioral is not considered. The impact of behavioral analysis will be less on the market day by day.

This expert also said that the fraction of Vale`s iron ore production will enter the market over the course of 2 years, and this is a psychological effect that caused the price shock.

He also talked about the pellet market: “Pellet market is different from iron ore. Considering the global production in 2017, that is about 72 million tons and 81 million in 2018, we can realize that absence of one or two producers will have high psychological impacts on the market. The largest producer of European pellets in Europe, which sometimes compensates Venezuela`s HBI production deficit in the Gulf states, is Sweden`s LKAB that now has a little problem with pellet production, which will become more acute within a month or two.”