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Home / Metal News / Fitch Solutions’ BMI raises 2024 iron ore price forecast, citing rebound of market confidence, but is bearish on prices in the long run

Fitch Solutions’ BMI raises 2024 iron ore price forecast, citing rebound of market confidence, but is bearish on prices in the long run

Dec 5, 2023 08:57

Source:SMM

Benchmark Minerals Intelligence (BMI), a subsidiary of Fitch Solutions, raised its average iron ore price forecast for 2024 to $120/mt from $100/mt, mainly due to a rebound in market confidence.

Benchmark Minerals Intelligence (BMI), a subsidiary of Fitch Solutions, raised its average iron ore price forecast for 2024 to $120/mt from $100/mt, mainly due to a rebound in market confidence. Yet, it also believed that long-term iron ore prices will continue to fall for many years after this year. BMI predicted that iron ore prices will dip to $80/mt in 2032 from $110/mt this year.

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Fitch Solutions’ BMI raises 2024 iron ore price forecast, citing rebound of market confidence, but is bearish on prices in the long run

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