What a difference a few weeks make!
Two reports published by the Financial Times last week suggest that 2009 world iron ore prices will fall - or at best see a minimal rise in 2009.
Thus on Thursday, the FT discussed the high probability that iron ore miners would see the first price cut in seven years [see http://www.ft.com/cms/s/0/88fc2368-a6af-11dd-95be-000077b07658.html?nclick_check=1
On Friday, the paper discussed how a fall in Chinese steel demand would cause iron ore prices to buckle [see http://www.ft.com/cms/s/0/ca829344-a6eb-11dd-95be-000077b07658.html
The general indication seems presently to be that iron ore prices will settle in 2009 somewhere between a 10 per cent cut, and a 10 per cent rise (at most). Watch this firstname.lastname@example.org
Labels: 2009, iron ore, price