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The world bank predicts further declines for iron ore

Words:[Big][Medium][Small] Mobile Page Two-Dimensional Code 2018-06-12     

The world's leading iron ore suppliers include Brazil's vale, Australia's BHP billiton, Rio tinto and fortesoft metals group.Australia's iron ore exports account for more than two-thirds of the world's total, while western Australia's pilbara mines account for half of the country's output.

In addition to the global economic downturn and weak market demand, the key reason for the collapse of iron ore prices lies in the giants' continuous expansion of production capacity and supply.Industry analysts believe that as long as the monopolists' production capacity continues to be released, iron ore prices are likely to continue to bottom out amid sluggish world demand.

And as iron ore giant competition intensifies, ordinary iron ore enterprises than will struggle to survive, iron ore power shuffle will continue to intensify.

According to world bank forecasts, average commodity prices will be 12 per cent lower this year than in 2014.Bloomberg's commodity index also fell to its lowest level in five years., including oil, grain and iron ore, commodities generally continued to drop, mainly because the global economic growth is slow, especially the main commodity consumer demand, the producer in order to guarantee the market share and profit increase supply, lead to serious supply exceeds demand, the market price in respond.

     



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