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.
Germany’s Commerzbank analysts commented last week that according to data from the customs authorities, China imported “only” 251 tons of silver in August. Although this was 16% up on the previous month, it was 29% down on August 2015. The analysts also estimated that Chinese silver imports have totalled 1,920 tons since the beginning of the year, which puts them just shy of 7% below the same period last year. After getting off to a strong start to the year, Chinese silver imports have seen their dynamism decline almost continuously. As such, the analysts concluded, the fall in Chinese imports is likely to put the brakes on the silver price rise.
