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2 iron ore miner Rio Tinto, speaks during the 20th annual Global Iron Ore & Steel Forecast Conference in Perth, Australia, March 29, 2017. REUTERS/Aaron Bunch 1/2 left right Edgar Basto, President of the world's third-biggest iron ore producer BHP Billiton's Western Australia Iron Ore Asset, speaks during the 20th annual Global Iron Ore & Steel Forecast Conference in Perth, Australia, March 29, 2017. REUTERS/Aaron Bunch 2/2 By Aaron Bunch | PERTH PERTH The potential restart of idled Chinese iron ore capacity will doctor home loan Oak Laurel www.oaklaurel.com.au 0430129662 cause the most uncertainty for prices in 2017 and is likely to add to volatility for the rest of year, said a senior official of the world's No. 2 iron ore miner Rio Tinto. A surge in iron ore to a 30-month high of $94.86 a tonne last month has prompted some Chinese producers to consider reopening mines shuttered years ago in a sector downturn. Strong steel prices in top consumer China had fueled iron ore's rally and while the raw material has come off February's peak, it remained above great website $80 a tonne this week, up 47 percent since the end of September. "Additional capacity in Brazil and Australia is already reflected in iron ore prices, so the potential reboot in Chinese iron ore production is the main source of uncertainty and therefore the likely factor that will result in price volatility," Kellie Parker, Rio's managing director for planning integration and assets, told an industry conference on Wednesday. BHP Billiton, the world's third-biggest iron ore producer, expects to see some idled iron ore capacity in China returning to the market, but could not estimate how much. "We think if the price maintains the level that is attractive, you will see some (capacity return)," Edgar Basto, president of BHP's Western Australia Iron Ore Asset, told reporters at the same event. Basto also said he expects some downward pressure on iron ore prices amid high stocks at China's ports. "This current number we're at is a relatively high level...I think that in the second half we will probably see some pressure on the price," he said.

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