www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Industries

Iron ore declines likely to persist as supply exceeds demand

(Agencies) Updated: 2015-01-09 10:38

Iron ore is likely to extend its declines in 2015 as global supply exceeds demand and the world's largest producers plan to add production, according to INTL FCStone Inc, which described last year's rout as incredible.

The ferrous sector remains chronically oversupplied and further weakness in iron ore prices is expected over the year, analysts including Edward Meir and Spencer Johnson wrote in a report on the outlook for commodities and currencies.

While there may be a climb of $5 to $7 a metric ton in the early part of 2015, there's no good news for bulls amid the glut, according to the report.

The raw material, which lost 47 percent last year as output by BHP Billiton Ltd and Rio Tinto Group expanded, opened 2015 with the biggest weekly gain in 18 months amid speculation China will take steps to spur growth.

The country is accelerating 300 infrastructure projects this year as part of a broader 10 trillion yuan ($1.6 trillion) plan, according to industry sources. It's doubtful that additional stimulus in China will be significant enough, said INTL FCStone.

"There is no good news ahead for the iron ore bulls," wrote Johnson. "Production rates are still projected to rise among the major three, offsetting declines from the higher-cost producers. Chinese demand is the usual wild card."

Ore with 62 percent content delivered to the port of Qingdao in eastern Shandong province rallied 5.8 percent last week, the biggest gain since July 2013, and advanced to $71.49 a dry metric ton on Tuesday, the highest level since Dec 5, according to Metal Bulletin Ltd. The benchmark lost 0.7 percent to $70.96 on Wednesday.

Iron ore will average $79 a ton this year, according to Morgan Stanley, and analyst Tom Price said last month that in terms of falling prices the worst is probably over.

Citigroup Inc has forecast, however, that it may plunge to less than $60 a ton this year as global supply increases and demand remains weak. Last year, the raw material averaged $96.97 as Rio Tinto, BHP and Brazil's Vale SA expanded low-cost output.

Previous Page 1 2 Next Page

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 99国产高清久久久久久网站 | 色樱桃影院亚洲精品影院 | 性欧美精品孕妇 | 又黄又www| 久久久久久久久久久9精品视频 | 免费在线观看黄色毛片 | 国产高清a毛片在线看 | 九九精品免视频国产成人 | 一国产一级淫片a免费播放口 | 精品三级国产 | 男女视频免费观看 | 日韩不卡在线 | 在线满18网站观看视频 | 精品国产自在在线在线观看 | 国产精品久久久久久久人热 | 国产成人女人在线视频观看 | 欧美曰韩一区二区三区 | 国内精品影院久久久久 | 特级a欧美做爰片毛片 | 黄www片| 亚洲一区 在线播放 | 成年人免费黄色 | 国内成人自拍视频 | 日韩色在线 | 亚洲国产成人在线观看 | 国产精品18久久久久久小说 | 亚洲视频国产精品 | 国产成人国产在线观看入口 | 国产精品推荐 | 久久99国产亚洲精品观看 | 日本三级香港三级三级人 | 亚洲视屏在线 | japonensis国产福利 | 亚洲精品一区二区三区在线观看 | 波多野结衣在线观看一区二区 | 92精品国产自产在线 | 久久99国产综合精品 | 久久精品国产99国产精品 | 欧美亚洲另类久久综合 | 18成人网| 日韩精品亚洲人成在线观看 |