“Despite the weak demand, prices of iron ore may remain solid in 2020 as the supply is relatively tight on the global market”, report from JP Morgan. Meanwhile, it predicts that there will be about 30 million tons of iron ore oversupply in 2020, lower than the previous forecast of about 50 million tons, and the benchmark price would be same as current, being average US$ 81 per ton in 2020 H1 same as the previous forecast.
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