Australia lifts 2019 iron ore price forecast 20% following supply disruptions

摘要

Australia's Department of Industry has lifted its forecast for iron ore prices following a fiveyear high of an average of $88/mt in the AprilJune quarter driven by both supply disruptions and robust steel production in China, it said in its Resources and Energy Quarterly. It is now expecting 2019 to average $80.1/mt, which is 20% higher than the $66.9/mt forecast it had in the March edition of the report. For 2020, it has lifted the price outlook by 7% to $60/mt from $56/mt and left 2021 unchanged at $55/mt. Brazil's iron ore exports, which were 390 million mt in 2018, is forecast to dip to 370 million mt this year, before climbing back to 388 million mt in 2020 and then further to 403 million mt by 2021.