SHANGHAI, Dec.8 (SMM)－Promoted by steel market, iron ore price is likely to keep firm during first several months in 2018, said ANZ Bank.

With slower growth of China’s economy, iron ore price will retrace in the second half of 2018, the bank predicts. The price will maintain at $70 per ton during first six months of 2018 and then drop to $65 per ton in the end of 2018, which is expected to see price drop in each quarter in late 2018.

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