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    InícioNotíciasIron ore maintains $100/ton but UBS says price 'unsustainable'

    Iron ore maintains $100/ton but UBS says price ‘unsustainable’

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    Por Carl Surran

    Iron ore continues to climb, reaching $103.55/ton, and has held above $100 nearly every day since late May as major supplier Brazil continues to struggle with its coronavirus outbreak, raising the risk of mine disruptions.

    Vale (NYSE:VALE) has the capacity to improve its run rate to achieve its annual guidance but the risk of disruption from coronavirus remains high, UBS says, as Brazil has yet to get its pandemic under control.

    UBS raises its average FY 2020 iron ore forecast to $91/ton but expects just $80 in 2021, cautioning that $100 is “unsustainable” and should drift lower as China enters a seasonal lull and exports from Brazil potentially recover from a weather-impacted Q1.

    But S&P Global Platts offers a more upbeat price outlook, saying iron ore supply is far tighter than expected and operational issues at mines and ports in Australia and Brazil can have a significant impact on prices.

    Other relevant tickers nclude RIO, BHP, OTCQX:FSUMF, OTCQX:AAUKF, OTCPK:AAUKY, OTCPK:GLCNF, OTCPK:GLNCY

    Fonte: Seeking Alpha

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