Iron ore weakness to continue into 2025 and beyond, says Fitch Solutions’ BMI
Looking beyond 2024-2025, BMI analysts maintained their view that iron ore prices will likely follow a multi-year downtrend.
The copper price rose on Tuesday due to a softer dollar, although data from top consumer China signaling weak activity capped gains as the market looked ahead to the US inflation data that could yield clues to US interest rates.
Copper for delivery in May on the Comex market in New York touched $4.05 per pound ($8,910 per tonne), up 2% compared to Monday’s closing.
[Click here for an interactive chart of copper prices]
US consumer price inflation data is due on Wednesday, while the US Federal Reserve’s decision on interest rates will be made at its meeting on May 3.
Read More: Western Copper confirms $1.7 million investment by Rio to maintain stake
