Iron ore prices are expected to rule at $50-70/ton for the next 6 months: BMI Research
PTI Aided by growth in demand from China, the world's largest steel maker, iron ore prices are expected to rule in the range of $50-70 per tonne in the near term, BMI Research said today. "We expect iron ore prices will trade between $50-70 a tonne over H1 2017 as additional Chinese stimulus measures will tighten the market, providing support to prices over the next six-to-nine months," BMI Research, part of the Fitch Group, said in a statement. However by 2018, the prices will re-test lows due to an over-supply in the seaborne iron ore market, driven by strong production in Australia and Brazil and weakening consumption growth in China, it added. "Whereas our previous core scenario expected the iron ore balance to ...
One million jobs affected by ban on iron ore mining, exports: ASSOCHAM
Sachin Manawaria | The Dollar Business A ban on one of iron ore mining and exports in the top producing states of Karnataka and Goa has affected around one million jobs, according to a study conducted jointly by Yes Bank and the Associated Chambers of Commerce and Industry of India (ASSOCHAM). Illegal mining, lack of value-addition and shortage of iron ore for the domestic industry have led to several restrictions on the iron ore production and exports since 2010-11, including an export ban in top iron ore producing states of Karnataka and Goa. The government has also imposed an export duty of 30% ad valorem on iron ore with effect from December 30, 2011 and 5% ad valorem on ...
