Ore prices made phenomenal progress in the past few months: Tom Albanese

Miners are now cautiously optimistic as to how prices will play out this year, says Albanese

Iron ore prices have risen sharply in the past few months. But, miners are now cautiously optimistic as to how prices will play out this year, says Vedanta Resources Chief Executive Officer Tom Albanese in an interview with Kunal Bose. Edited excerpts:

Defying price forecasts by research agencies, iron ore prices have more than doubled since 2016 beginning. Metallurgical Mines Association of China says the average seaborne ore price in 2017 will rise ‘moderately’ from last year’s average of $60 a tonne. As a big producer-exporter in India, how do you look at the scene?

Whatever the forecasts, ore prices