Finweek English Edition - - THE WEEK -

Iron ore prices will aver­age $50 a tonne in the third quar­ter of the year, down 23% from an ear­lier pre­dic­tion, and $55 in the fi­nal three months, 15% lower than pre­vi­ously es­ti­mated, Mor­gan Stan­ley said in a re­cent re­port. The bank is flag­ging prospects for ris­ing low-cost pro­duc­tion and the like­li­hood of the world­wide sur­plus ris­ing yearly un­til the end of 2021, Bloomberg re­ported. Iron ore prices peaked near $95 a tonne in mid-Fe­bru­ary and then de­clined as sup­ply from pro­duc­ers in­creased, while China’s moves to clamp down on lever­age helped to quell spec­u­la­tive trad­ing, Bloomberg re­ported.

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