Iron ore prices will be trapped around $50 a tonne over the next two years, or only about a quarter of the highs the bulk commodity scaled during the mining boom. A slowing Chinese economy has shrunk demand for steel in the world's top producer of the alloy, forcing firms to rely on exports. But rising trade friction could cap overseas sales, limiting the appetite for the steelmaking ingredient iron ore that global miners continue to churn out in vast quantities.
