The country’s behemoth iron ore miners ended the year on a high as China’s abrupt Covid Zero reversal and a steady stream of supportive policies raised the outlook for demand.
Commodity research firm says production growth, weaker demand and negative sentiment in the industry will see iron ore, copper and industrial metals sink next year.
Record spot prices will lift contract values for lithium miners next year but a surge in production to over 1 million tonnes by 2024 will put downward pressure on prices, according to a new government report.