Australia predicts iron ore prices continue downward trend for 2017-2018
According to Australian government forecasts that iron ore price is likely to fall at US$46.7/ton in 2018, due to the slowdown in demand from China.
Senior Analyst pointed out that Australia is the world's largest iron ore exporter, Australia's official forecasts for the following two years iron ore prices will drop further. It will not be sustainable the prices in the future.
Australia 2016-2017 iron ore exports in the fiscal year is expected to down by 2% and 2018 iron ore could fall to US$46.7/ton, respectively.