S&P Raises Iron Ore Price Forecasts

The ratings agency Standard & Poor's has raised its price forecasts for some of Australia's major export commodities. Iron ore prices are currently expected to average $ 55 per tonne in 2017, up from the agency's previous estimate of $ 45 per tonne. Prices are expected to be at $ 50 per ton in 2018.

The slight increase reflects the impact of stimulus measures in China in 2016, as well as the likely continuation of positive steel demand dynamics in the first half of 2017, according to S&P.

Iron ore prices fell to a ten-year low in early 2016, but have jumped sharply in recent months to more than $ 80 per tonne.