6.7 C
New York
Friday, March 29, 2024

Comment by phil

View Single Comment

  1. phil

    Australia cuts iron ore forecast as miners boost output

    09:10 AM ET · RIO

    • Australia is cutting its iron ore price estimate for this year and predicts a further drop in 2015, as mining companies including Rio Tinto (RIO) and BHP Billiton (BHP) increase output and cause a glut.
    • Spot prices will average ~$110/ton this year from $119 forecast in December and $126 in 2013, and may average ~$103 next year, according to the Bureau of Resources and Energy Economics.
    • Morgan Stanley analysts specify H2 as when supply growth picks up and outpaces demand; in H1, demand growth and supply growth are evenly matched.
    var isMC=true; var adSize=’320×50′; var ord = Math.floor(Math.random()*10e12); var seekingalpha_ad_src=’http://ad.doubleclick.net/N6001/adj/sek.mobile/app;sz=320×50,320×250;x=x;tile=1;d=mobile;t=app;mcid=true;mcid=1645353;s=RIO;s=BHP;’+dart_my_vocation_and_profiles()+’ord=’+ord+’;dev=ip?’; document.write(”);



Stay Connected

157,450FansLike
396,312FollowersFollow
2,280SubscribersSubscribe

Latest Articles