[ferro-alloys.com] International iron ore price returned to 70 usd/mt again on Wednesday.

Iron ore powder 62% closed at 69.68 usd/mt, up 0.34%, according to Metal Bulletin.

Commonwealth Bank of Australia elevated iron ore powder 62% of fiscal year 2018-2019 to 61 usd/mt from 56 usd/mt as production cost of iron ore with high grade is too high. However, iron ore price of fiscal year 2019-2020 will drop to 53 usd/mt, and to 46 usd/mt for a long term.

• [Editor:Wang Linyan]