Reserves at Chinese ports to lower iron ore prices in the world to $35/ton

 Metaltorg.ru reports referring to Bloomberg that according to the assessment of Clarksons Platou Securities Inc., the price for iron ore might fall to $35/ton in H2 2015 on the background of the growth of reserves at the ports. Last week the iron ore reserves at the Chinese ports made up 82.5 mln tons. According to Australia & New Zealand Banking Group Ltd., in September they might rise to 95 mln tons. From our point of view, steel production in China at the end of the year will start falling in annual terms, and reserves will be at the logical state, Jeremy Sussman, analyst from Clarksons said. 

The level of reserves might start moderately rising in the coming months as the growth of offer is up but it evidently happens due to the further price fall, Goldman Sachs Group Inc. reports. The bank sees that the prices for iron ore will fall within the next 4 quarters.