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Iron Ore’s Worst Rout in 15 Months May Deepen as China Slows
Oct. 20, 2011 01:44PM PST
Base Metals Investing Bloomberg reported iron ore’s biggest decline in 15 months may worsen as the economy slows in China, production increases and the Eurozone debt crisis continues.
Bloomberg reported iron ore’s biggest decline in 15 months may worsen as the economy slows in China, production increases and the Eurozone debt crisis continues.
As quoted in the market news,
Ore for immediate delivery may drop to $140 a metric ton by year-end, according to Macquarie Group Ltd. analyst Bonnie Liu in Shanghai. That’s down 5.2 percent from $147.70 yesterday, data from The Steel Index Ltd. show. The price may fall to the mid to low $140s, said Australia & New Zealand Banking Group Ltd.
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