Iron-ore markets are heading for a very bumpy ride in the next couple of years, marked by significant price swings as the steel industry in China restructures, according to the developer of a planned $3.7-billion mine in Australia.
“Extreme volatility is going to be a hallmark of the market for at least a year or two,” said Andrew Stocks, MD of Iron Road, whose partner in the mine, port and rail project is China Railway Group, the world’s second-largest infrastructure builder. “We shouldn’t be afraid of that, that is just the way it is.”
