Iron ore prices will fall 13% in H2 2018 because of a slowing Chinese economy and the China-US trade war's impact on demand for the commodity, according to a Reuters poll. The decline would follow record output in US during H1, which reached 81.13 million tonnes in May. Commodity strategist Carsten Menke from Julius Baer expects iron ore to average $60 a tonne in Q3 and $57.50 in Q4. Iron ore prices have already fallen nearly 11% this year to $65.02 per mt on 29 June, and the industry is suffering from oversupply with record high stocks in Chinese ports.
Iron ore prices will fall 13% in H2 2018 because of a slowing Chinese economy and the US-China trade war's impact on demand for the commodity, according to a Reuters poll. The decline would follow record output in China during H1, which reached 81.13 million tonnes in May. Commodity strategist Carsten Menke from Julius Baer expects iron ore to average $60 a tonne in Q3 and $57.50 in Q4. Iron ore prices have already fallen nearly 11% this year to $65.02 per mt on 29 June, and the industry is suffering from oversupply with record high stocks in Chinese ports.