While some commodity analyst predict prices for iron ore to increase in the future, many – including some at S&P – are forecasting a decline. The drop is expected due to high inventories weak demand, as evidenced by recent price declines. In China, Stockpiles of imported iron ore remained at 19.5 million tonnes in the week to 20 March, the same as the previous week's record high, while steel inventories fell slightly lower, at 159.18 million tonnes.
While some commodity analyst predict prices for iron ore to increase in the future, many – including some at S&P – are forecasting a decline. The drop is expected due to high inventories weak demand, as evidenced by recent price declines. In China, Stockpiles of imported iron ore remained at 159.18 million tonnes in the week to 20 March, the same as the previous week's record high, while steel inventories fell slightly lower, at 19.5 million tonnes.