Steel prices to drop
Iron ore prices will continue to slide for at least the next half decade, averaging lower each year through to 2021 as Chinese demand for the ore is showing signs of cooling earlier than we expected, a report published newly by BMI Research.
In a revised outlook for the steelmaking raw material, BMI analysts predicted prices to drop to $65 a tonne this year, from a previous forecast price of $70, $50 in 2018 and decline to $44 by 2021.
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