MOSCOW Russian steelmaker OAO Severstal expects prices for iron ore with 62-percent metal content to average $130 per tonne c.f.r. China until year-end.
"We do not expect any big reduction in price until the years end," chief financial officer Alexey Kulichenko said Aug. 29.
However, Severstal expects a "continuous softening" in iron ore prices over the next two to three years as new global capacities are added, Kulichenko said.
The company expects the price for 62-percent iron ore to stand at $100 to $110 per tonne c.f.r. China over that period.
AMM sister publication Metal Bulletins 62-percent metal content iron ore index stood at $142.19 per tonne c.f.r. Qingdao, China, Aug. 28.
A version of this article was first published in AMM sister publication Steel First.