UBS cuts its Q4 iron ore price forecast for BHP Billiton and Rio Tinto

Friday, 04 November 2011 17:57:08 (GMT+3)   |  
       

Swiss-based global financial services company UBS has announced that it has decreased its price forecast for the fourth quarter for 62 percent fine iron ore sold by Australian miners BHP Billiton and Rio Tinto from $166/mt FOB to $143/mt FOB, citing a shift in the industry towards spot pricing. The forecast price is still significantly above current spot prices.

UBS stated that the global iron ore market would be buoyant in the long term thanks to strong iron ore demand from China and India's restrictions on iron ore exports.


Similar articles

Daily iron ore prices CFR China - March 29, 2024

29 Mar | Scrap & Raw Materials

Major steel and raw material futures prices in China - March 29, 2024

29 Mar | Longs and Billet

Iron ore prices drop by over $9/mt week on week, mood remains bad

28 Mar | Scrap & Raw Materials

Goa government to ease policy for liquidating iron ore dumps lying on private land

28 Mar | Steel News

Major steel and raw material futures prices in China - March 28, 2024

28 Mar | Longs and Billet

CISA: Coking coal purchase cost in China down 9.86% in Jan-Feb

28 Mar | Steel News

Brazilian high-grade iron ore price declines sharply in two days

27 Mar | Scrap & Raw Materials

Daily iron ore prices CFR China - March 27, 2024

27 Mar | Scrap & Raw Materials

India’s JSPL takes operational charge of iron ore complex in Venezuela

27 Mar | Steel News

Major steel and raw material futures prices in China - March 27, 2024

27 Mar | Longs and Billet