CBA expects iron ore prices to return to $100/t as increased infrastructure demand from China is outweighed by a contraction in property construction. It expects that reduction to bring China’s total steel demand down by up to 2% this year. Thus reduced iron ore demand from China and a slight increase in the global supply of iron ore is likely to weigh on prices in 2023. (The Australian)

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Maxine Koster

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VIEW: CBA Expects Iron Ore Prices To Return To $100