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Fitch Ratings, an international credit rating agency, has announced that it has maintained its metals and mining price assumptions for 2024, 2025, and 2026.
The agency has kept its iron ore pricing projections at $105/MT in 2024, $90/MT in 2025, and $85/MT in 2026. In March, Fitch raised its iron ore price expectations to the above-mentioned levels to reflect operational challenges at many major producers caused by underinvestment since 2020, which constrain supply, as SteelOrbis reported. The organisation projects that iron ore prices will reach $75/MT in 2027.
Additionally, the pricing assumptions for coking coal have been maintained at $240/MT for 2024, $190/MT for 2025, and $170/MT for 2026. The price of coking coal is expected to reach $170/MT in 2027.
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