Iron ore prices in India may rise 3-4 pc in 2019: Report
Global iron ore prices, the rating agency said, have surged 30 per cent to USD 90 per tonne as of February 2019 from USD 69 per tonne in December 2018 because of supply disruption at Vale's mines in Brazil, which account for 90 per cent of the country's production of high-grade ore.
Given that China sources 20-25 per cent of its 1.06 billion tonne iron ore imports from Brazil, the disruption would keep global prices elevated in the near term as offsetting shortage takes time. Reuters