Akhmetov and Zhevago to lose $1.5 bln

​A sharp fall of world prices for iron ore raw materials has deprived the owners of the Ukrainian mining and metallurgical companies of record profit.

Last week in the largest iron ore raw materials market in the world – China – another price anti-record was set. The price of a ton of iron ore with 62% iron content with the supply to the Zindao port of China fell to $44.6 that is the worst result since 2005. In a few days the price rose to $50.1/ton but the forecasts for this year stay negative. According to the analysts of Citigroup, in Q3 the price for iron ore will fall to $36/ton, and will not rise over $40 until the end of the year. Thus the average annual price for iron ore raw materials in 2015 will be almost by twice less than in 2014 and by 80% less than in the most favorable for mining companies 2011. Then the price for iron ore reached $191.7.

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