Iron ore prices will 'fall into the $50s' next year, Citi says

Iron ore prices will average just $65 per tonne cfr China in 2015 while briefly falling into the $50s in the third quarter, according to Citi.

The US bank downgraded its forecast from $80 per tonne on expectations that renewed supply growth and a further weakness in demand will drive the market lower next year, it said in a research note on Tuesday November 11. The supply growth in the first half of next year will be driven by "Rio Tinto and BHP Billiton revving up expansions, Anglo American’s Minas-Rio ramping up, and Vale’s southern expansion starting...


Daisy Tseng

November 11, 2014

06:28 GMT