Wood Mackenzie's Griffin on Iron Ore Outlook

The video discusses the quarterly production report, highlighting Escondido mine's return to normal production and iron ore shipment estimates. It analyzes market trends, noting a correction and additional supply from Volvo S11D and Roy Hill. The demand side is explored, focusing on China's impact and price surges. Finally, it forecasts iron ore prices, suggesting a potential drop to balance the market amid supply cuts.

What was the production status of the Escondido mine in Chile according to the quarterly report?

• It was still under industrial action.

• It was closed for maintenance.

• It was back to normal production after industrial action.

• It was operating above normal levels.

What is the expected additional iron ore supply from Volvo S11D and Roy Hill this year?

• 30 million tons

• 10 million tons

• 60 million tons

• 100 million tons

How has China's demand for iron ore been described in the context of the past year?

• As declining significantly

• As unpredictable and volatile

• As stable with no changes

• As being as good as it gets

What is the fundamental price level for iron ore when the market is balanced, according to analysts?

• $60

• $50

• $70

• $40

What might cause iron ore prices to fall further in the short term?

• A rise in production costs

• A decrease in global supply

• China's unpredictable policies and supply cuts

• Increased demand from Europe