Deutsche Bank Says Iron Ore is Slumping 24% on Expanding Supply

Bloomberg reported that iron ore could slump 24% by the end of 2013 according to Deutsche Bank AG, on expanding production and slowing Chinese restocking demand.

As quoted in the market news:

The price of the commodity, last assessed at $150.60 a dry metric ton by The Steel Index Ltd., will slide to $115 a ton by December, Deutsche Bank analyst Daniel Brebner in London said in a report dated March 1.

Click here to read the full Bloomberg report.