MELBOURNE: Australia's Fortescue Metals Group sees strong iron ore demand next year on solid Chinese demand as well as a post-COVID-19 recovery in other markets, Director of Sales and Marketing Danoy Goeman said on Wednesday.
"We continue to expect strong market dynamics. Obviously supply continues to be constrained. On the demand side, even outside of China, our customers keep telling us there is very strong steel demand," he told an investor briefing.
Iron ore prices soared this month towards $150 a tonne due to ongoing supply issues out of Brazil.
"We expect the market to be strong probably for the entire year ... So overall we are optimistic about the strength and the endurance of the iron ore market."
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