Business
The only way is up: The iron ore price boom that refuses to die – Sydney Morning Herald
Second-guessing the Chinese and the Brazilians is an occupational hazard for economists and commodity experts, who have been proven wrong again and again predicting…
But for the most part, experts are expecting to see the iron ore price fall significantly later in 2021 and even further in 2022. By way of example, UBSs most recent update on the market sees iron ore prices moving down to $US100 by the end of 2021 and to $US75 in 2022.
For Australias three large producers BHP, Rio Tinto and Fortescue, the near-term challenge is clear: dig up and ship as much as possible to capitalise on the buoyant price, which for now at least is still defying gravity.
But then,…
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