Africa may become the dominant force in future iron ore prices
2019-01-25 15:05:52
It is reported that in the next seven years, the rapid development of iron ore in Africa is likely to have an impact on the international market and have a violent impact on iron ore prices. Australian economist Luke Hurst predicts that the current price of iron ore is $150 and is likely to fall back to $80 in the future. If iron ore produced in Africa becomes a mainstream product, iron ore prices may even fall by $60. Since the global financial crisis, such low prices have never been seen. Luke Hurst surveyed 17 iron ore mines in western and central Africa to estimate mine production based on risk level and probability of success. China is actively promoting the development of reserves in these areas and may become the dominant force in iron ore pricing. An Australian mining company leader said: "China wants to develop funds for these mines is a bank, but Western countries will not lend money to banks. They may do an assessment and then pat the butt, they may buy These iron ore, but they will not invest in development. This is the difference. Australian iron ore giants have publicly stated that they are not optimistic about the so-called emerging African iron ore suppliers. BHP said that Africa has no ports and infrastructure at all. It is impossible to compete with Pilbara. African iron ore is far from the coastline, and it takes a lot of effort to export. And political instability in Africa may also weaken the prospect of ore export. However, in fact many analysts predict 2014. Iron ore prices will fall back with the influx of iron ore into the market.
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