
Specifically, she sees volume increases slowing to about 55 million tonnes in 2015, 40 million tonnes in 2016 and 30 million tonnes in 2017. However, any decline in Australian exports may be offset by an increase in Brazilian exports as Anglo American's (LSE:AAL) Minas-Rio pellet project ramps up.
Price recovery still to come Mohr said that despite the recent uptick in the iron ore price and despite those moves from big producers, she expects it will be 12 to 18 months before there is any genuine pickup. She believes closures of high-cost domestic mines in China will be a key driver for boosting the metal's price down the road. That said, it seems the country is trying to avoid such shutdowns — for example China recently decided to cut back its resource tax on iron ore by 60 percent in an attempt to support the struggling industry. The tax, which is a percentage of value rather than a flat rate, was lowered on May 1. However, while a 60-percent cut might sound like a big reduction, Mohr said ultimately it is not significant. Looking even further into the future, Metalloinvest Holding told Bloomberg that it sees the iron ore price staying at about $70 per tonne through to 2023 amid slowing steel demand from China and the supply glut. All in all, it's clear that the future of the iron ore price remains heavily reliant on moves made by China and by major miners; even so, it is nice to see a price boost, albeit a small one. And for investors willing to keep a close eye on the market and play it carefully, there may yet be opportunities. Securities Disclosure: I, Kristen Moran, hold no direct investment interest in any company mentioned in this article. Iron Ore Price Boosted as Stocks at Chinese Ports Drop from Iron Investing News