Iron ore price to average $55/t in 2017

16 December 2016

The average price of 62-percent iron ore will be $54.7 per ton CFR China in 2017, a Reuters poll showed.

Analysts raised their forecasts for the next four years, but many of them asked Reuters not to publish their forecasts because they are under review due to the recent global rise in prices for steel raw materials and semi-finished and finished products.

The average forecast price is $51.1 per ton for 2018.

No increase in demand for expensive Chinese ore is expected and the global benchmark price will remain at $60-$70 per ton, said Maxim Khudalov, director of corporate ratings group ACRA.

In 2015, iron ore averaged $55.3 per ton and was $51.6 per ton* in the first half of 2016.