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Iron Ore Forecasts Push Mining Stocks Lower, Miners Remain Bullish
Mar. 20, 2013 07:01PM PST
Base Metals Investing Reuters reported that iron ore price forecasts fall below $100/ton on slow demand and increasing supply, causing mining stocks to decline further. But the world’s biggest iron ore miners remain bullish.
Reuters reported that iron ore price forecasts fall below $100/ton on slow demand and increasing supply, causing mining stocks to decline further. But the world’s biggest iron ore miners remain bullish.
As quoted in the market news:
Rio Tinto Ltd, BHP Billiton Ltd and fellow Australian miner Fortescue Metals Group, which rank only behind the world’s biggest iron ore miner, Brazil’s Vale , plan to add a combined 235 million tonnes of new mine capacity by 2015, nearly equal to Rio’s total output in 2012.