BHP expects iron ore demand in 2019 to remain at levels similar to last year despite uncertainties over short-term supply, it said on Tuesday February 19.
"Firm pig iron production" and unexpected iron ore supply disruptions had resulted in prices for the steelmaking raw material "performing strongly" during the six months to December, the miner noted in its half-year report.The Fastmarkets MB 62% Fe Iron Ore Index averaged $69.23 per tonne cfr China in the second half of 2018, compared with $68.37 per tonne a year earlier. On Monday February 18, the index stood at $88.32 per tonne cfr China, up 22.5% compared with January 2.The rise in prices this year has been attributed to Vale's suspension of operations at some of its mines in Brazil, following the deadly collapse of a tailings dam...