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Iron Ore’s Longest Slide Since ’82 Threatens Mining Earnings
Sep. 22, 2011 02:28PM PST
Base Metals Investing Bloomberg reported Bloomberg reported iron ore is set for the first four- year drop since at least 1982 as supplies surge, threatening to end record earnings for miners.iron ore is set for the first four- year drop since at least 1982 as supplies surge, threatening to end record earnings at mining companies.
Bloomberg reported iron ore is set for the first four- year drop since at least 1982 as supplies surge, threatening to end record earnings for miners.
The market news is quoted as saying,
Global prices may fall 29 percent to an average $123 a metric ton in 2015 from a record $173 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 percent increase for aluminum in the same period, London Metal Exchange futures prices show.