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Australia forecasts 20 percent iron ore price drop in …

Australia on Monday said it expects iron ore prices to average a tonne this year, down 20 percent from 2017, because of rising global supply and moderating demand from top importer China as its steel sector shrinks.

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4 Mining Stocks in Focus on Unpredictable Iron Ore Prices

Last week, iron ore prices logged the largest gain of 2018, climbing nearly 7% till Apr 19. People’s Bank of China’s decision to trim the reserve ratio requirement (RRR) and soaring crude oil prices were primarily the two major catalysts to the rally.

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