New Delhi, May 14 -- Global iron ore prices are expected to remain 'rangebound', between USD 80 and USD 100 per tonne, over the period of 12-18 months, weighed down by weaker demand and high supply, Moody's rating said in a recent research note.

On the supply side, the market will witness higher supplies due to increasing output from major iron ore producers for the next two years in new an dexisting mines. Additionally, the report also mentions that new supplies entering the market from frontier regions will contribute to maintaining a high level of global availability.

The research note highlights that if prices go below USD 80, major producers will continue to operate profitably because of their low production costs, ensuring steady ...