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23 January 2015

S&P downgraded the forecast for iron ore prices

Credit rating agency Standard & Poor's downgraded the forecast for iron ore prices due to weak global economics growth and also plans to revise the ratings of miners. In particular, forecast for 2015 and 2016 years was reduced from $ 85 to $ 65 per ton of iron ore. According to data of The Steel Index, the spot price of iron ore with 62% content of iron with delivery to the Chinese Tianjin seaport was 67.4 $/t. "With our new expectations on the prices of iron ore, we forecast changes in the credit ratings and outlooks of a number of companies in the coming weeks - said Elad Yelasko, the analyst of credit rating S & P. - We believe that the slowing of global economy will affect the low demand. "

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