Deficit of Transoceanic Iron Ore Market will be 40 Million Tonnes in 2019

The reduction in iron ore global supply results from two major factors: the Brumadinho tragedy, in Minas Gerais in January, and the outbreak of tropical cyclones in Australia in March.

By Richard Mann, Contributing Reporter

RIO DE JANEIRO, BRAZIL - The transoceanic iron ore market will run a deficit of at least 40 million tonnes in 2019, according to forecasts from the British consultancy CRU.

In Brazil, Bradesco BBI has a similar projection: a deficit of 45 million tonnes this year. This situation will cause iron ore prices to remain high throughout the year, ranging from US$80 to US$100 per tonne in the bank's accounts, and between US$80 and US$90 for the remainder of 2019, in CRU's projections.

The reduction in iron ore global supply . . .

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