Grim Iron Ore Outlook Weighs on Miners

SMH reported iron ore is set for the first four-year drop since at least 1982 as supplies surge, threatening to end record earnings at the world’s biggest producers.

The market news is quoted as saying,

Global prices may fall 29 per cent to an average $US123 a metric ton in 2015 from a record $US173 this year, according to the median estimates of 10 analysts surveyed by Bloomberg News. The decline contrasts with estimates for little change in copper and a 10 per cent increase for aluminum in the same period, London Metal Exchange futures prices show.

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