Colin Hamilton, analyst at Australia-based Macquarie Group - a global provider of banking, financial, advisory, investment and funds management services, has said that
iron ore prices in
China will remain firm in the medium term because of tight supply, and that Chinese
iron ore prices may continue to indicate increases given that small mills in
China are increasing their outputs.
Mr. Hamilton remarked that the latest data show that
China's steel output will be above 700 million mt for the current year, adding that the global
iron ore supply chain is currently trying to catch up with demand.