Iron ore prices will remain high in the first half of 2017

Any major correction in iron ore prices will depend on what China's steel prices look like, as domestic steel prices in China soared to a new three-year high. Traders are optimistic about the outlook for the market in the near future, analysts say.

Credit Suisse expects iron ore prices to remain at around $ 90 /t in the first half of 2017. The price is estimated to fall by up to 30% in the second half of this year.