"Metalloinvest" predicts stabilization of iron ore prices.

"Metalloinvest", the second in the world in terms of iron ore reserves, predicts the conservation of the current iron ore prices at around $ 50 per ton up to the end of 2016, CEO Andrey Varichev stated at SPIEF.

"Currently iron ore prices are at a level significantly higher than it was at the beginning of 2016. The fall to below $ 40 per ton, which occurred in Q4 2015, of course, was critical for our industry as a whole. However, those corrections that occurred in early March after China claimed about the pace and plans for development of the industry, immediately gave the impetus, followed by a significant increase to over $ 60. After that, the effect of several billion dollars running into China's economy was reached, the story unfinished restructuring of the industry returned again with overcapacity, oversupply, etc. Now prices are at about $ 50 per ton", - Varichev stated.