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Home / Metal News / Citigroup:5 iron ore spot price may fall to $70 / tonne

Citigroup:5 iron ore spot price may fall to $70 / tonne

May 7, 2020 10:14

Source:SMM compilation

SMM5, March 7: a few days ago, Citigroup pointed out in a research paper, affected by weak steel demand, iron ore spot prices are expected to fall to $70 / ton in May.

The agency also said it expected iron ore surplus to reach 80 million tonnes in the second half of the year, while a shortage of 17 million tonnes in the first half heralded a sharp pullback in spot iron ore prices at the current $80 / tonne level.

"Ministry of Industry and Information Technology: the Operation of the Iron and Steel Industry was greatly impacted in the first quarter

"in 2020, Shandong Province will use comprehensive standards to promote the withdrawal of backward production capacity in accordance with the regulations (involving the aluminum and iron and steel industries)."

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