Ores

Iron ore to reach US$ 200 per ton in a few weeks, says Citi

May, 04, 2021 Posted by Andrew Lorimer

Week 202119

Citi said in a report on Tuesday that iron ore prices will reach new highs of US$ 200 / ton in the coming weeks, before stabilizing.

DataLiner shows that the number of vessels calling to export iron ore during the first quarter of this year remained stable in comparison to the two previous years.

For the second and third quarters, Citi predicts an average of US$ 185 per ton, while seeing $ 160 in the fourth quarter.

The bank expects iron ore prices to fall below the current futures curve in the fourth quarter, to an average of US$ 125 in 2022.

Source: Reuters

 

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