Iron ore prices in free fall – all eyes on China

In the report distributed by Ohmresearch, executive director of Tarraco Commodities Solutions Gilberto Cardoso warns about the heavy hand of the Chinese government, which initially ordered steel mills to ensure that annual steel production in 2021 remains at a similar level to last year.

RIO DE JANEIRO, BRAZIL - Good news for global inflation and bad news for mining company shareholders. The outlook for iron ore over the next 12 months is for greater supply and, therefore, further price declines.

Since June, when it reached 220 dollars a ton, the commodity's price has lost strength, returning to the level of a year ago. On Friday the 17th, the iron ore price fell 4.91% in the Port of Qingdao, to 101.95 dollars a ton.

China's growth is vital to ore pricing. However, the outlook, which is not very encouraging for producers, can . . .

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