Australia Govt forecasts 20% iron ore price drop in 2018
|Australia’s the Department of Industry, Innovation and Science is out with its latest forecasts on iron-ore prices for this year.
Key Points via Reuters:
Expects iron ore prices to average $51.50 a ton in 2018.
A 20% drop from 2017’s average of $64.30 a ton in 2017.
Price is currently around $75.
The Department cites rising global supply and moderating demand from China as the key factors for the potential drop in prices.
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