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.
Reports from China indicate the Chinese economy grew 9.7% in the first quarter of 2011 with foreign exchange holdings rising to a record $3 trillion. This brought about a fresh round of speculation that the Chinese government will tighten lending further in an attempt to curb and control inflation after two years of record credit expansion. The central bank has already raised interest rates four times since October 2010 along with increasing reserve requirements for Chinese banks.
