Macquarie raised its iron ore price forecast for 2019 by 22%

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Australian company Macquarie Wealth Management reported an increase in the forecast for iron ore prices this year by 22% to 77 dollars per ton, the following year - by 3% to 65 dollars per ton, because of a sharp reduction in oil production by Vale in mines in Brazil due to dam failure. Vale experts believe that this year its production will be reduced by at least 70 million tons. Macquarie experts believe that the remaining three largest companies producing iron ore will not be able to increase production sufficiently, since for this they need to significantly increase their capital investments. So, in order for Rio Tinto to increase its production, it will take 3-4 years to invest in infrastructure and expansion of mines. Iron ore in Singapore rose by 1.3% on Monday to $86 per ton.

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