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Perfect Storm To Keep Blowing Into Next Year For Iron Ore Miners [Forbes]

BHP Group Limited American Depositary Shares (Each representing two Ordinary Shares) (BHP) 
US:NYSE Investor Relations: bhp.com/investor-centre
Company Research Source: Forbes
A perfect storm of reduced supply and rising demand which has driven the price of iron ore to more than $110 a ton is forecast to keep blowing into next year.Despite repeated forecasts that the price of the steel-making material is overdue for a correction the latest reading of the iron ore market is for the price to be higher for longer thanks largely to supply and demand effects of the Covid-19 pandemic.Rapid growth in China's steel output will keep iron ore prices higher for longer. Costfoto/Barcroft... [+] via Getty Images.Barcroft via Getty ImagesBrazil, one of the world’s biggest iron ore producers, has seen its mining industry buffeted by the public health crisis which has crimped exports while China, the biggest consumer, has lifted imports to meet high demand caused by government economic stimulus to counter the effects of Covid-19.Recommended For YouHong Kong Mogul Jimmy Lai Arrested Under New National Security LawInvestors will get a close look at the effects of the iron Show less Read more
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