$Fortescue Ltd (FMG.AU)$ Commodity prices are challenging to...
$Fortescue Ltd(FMG.AU$ Commodity prices are challenging to predict. But some analysts have a go.
China is a significant buyer of a lot of Australia’s iron, so a slowdown of purchasing can have a sizeable impact on the iron ore price.
The broker Citi recently said the iron ore price could drop to US$70 per tonne in the long-term, though this was an upgrade from the expectation of US$60 per tonne.
In the next couple of years, Citi thinks the iron ore price may reduce to US$80 per tonne. But Citi admitted it’s possible it could be higher than that.
Other brokers, such as UBS, also have estimated the iron ore price will drop in the coming years.
China is a significant buyer of a lot of Australia’s iron, so a slowdown of purchasing can have a sizeable impact on the iron ore price.
The broker Citi recently said the iron ore price could drop to US$70 per tonne in the long-term, though this was an upgrade from the expectation of US$60 per tonne.
In the next couple of years, Citi thinks the iron ore price may reduce to US$80 per tonne. But Citi admitted it’s possible it could be higher than that.
Other brokers, such as UBS, also have estimated the iron ore price will drop in the coming years.
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