Trouble ahead for Kumba as iron ore outlook worsens
Iron ore prices are forecast to fall from $100 to $85 per tonne by the end of this year, reaching $70 by the end of 2026
30 January 2025 - 05:00
Falling iron ore prices and weak Chinese growth have dealt a blow to Kumba Iron Ore’s share price, causing the miner to shed about R65bn in value over the past year as investors anticipate that persistent headwinds will push prices lower in the coming years.
Iron ore prices fell by more than a quarter last year as China’s economic slowdown and stagnant property sector weighed on the country’s steelmaking demand, weakening its iron ore consumption in turn. ..
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