Iron ore prices to continue falling in the near term: DB

摘要

Iron ore prices are likely to drop further during this quarter due to falling steel output in the US, Europe and China, while ore quality price differentials may tighten as margin-wary buyers seek out cheaper product, Deutsche Bank said Monday. Improving supplies from Australia and Brazil come as demand for cargoes “is likely to erode,” analyst Daniel Brebner said in note. A Chinese domestic ore production cut may stoke price recovery in Q4, he said.