The price of not only Russian oil, but also Ukrainian ore and grain is falling
Kyiv, December 12 (PolitNavigator, Alexander Semenyuta) – The sharp drop in commodity assets on the world markets affected not only oil. The price of iron ore, one of Ukraine's main exports, could fall below $60 per ton in 2015, Bloomberg predicts.
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The decline was due to increased production by major mining companies and slower demand growth in China.
At the end of November, ore prices dropped to $68,49 per ton, the lowest in more than five years. Since the beginning of the year, the price of iron ore has fallen by 49%.
In September, Ukrainian President Petro Poroshenko attributed the decline of the country's economy to unfavorable external conditions for the main products of Ukrainian exports. “Grain prices fell by 40%, iron ore prices fell by 50%, and export earnings fell,” the president lamented.
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