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Metalloinvest expects iron ore prices to hold steady through 2012

February 03, 2012 - 08:43 GMT Location: Moscow

KEYWORDS: Iron ore , Russia , Metalloinvest , steel

Russia’s largest iron ore producer, Metalloinvest, said on Friday February 3 that it expects iron ore prices to stay at their current level through the whole of 2012.

Current prices are 15-20% lower than those seen in 2011, the company said. Metalloinvest said its 2012 revenue and earnings before interest, tax, depreciation and amortisation (Ebitda) may fall by 20-30%, compared with 2011. Revenue in 2011 was around $10 billion, based on the company’s preliminary...

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