Base Metals

Reuters reported that according to Rio Tinto, the price of iron ore will retreat slightly this year from its current high levels, which reached almost $160 per ton last month.

Reuters reported that according to Rio Tinto, the price of iron ore will retreat slightly this year from its current high levels, which reached almost $160 per ton last month.

As quoted in the market news:

I think it would be very bullish to expect that the prices will remain where they are through the full year,” added Walsh, the group’s former iron ore boss.

A plunge in iron ore prices to three-year lows below $87 in September marked a turning point for the raw material, which is a big money-spinner for producers such as Rio, Vale and BHP Billiton.

Click here to read the full Reuters report.

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