Otmane El Rhazi from Mining Weekly | Ferrous Metals Home.
Iron ore prices fell 3.5% to a 5-1/2 year low on Tuesday on renewed concerns over rising supply, while rebar futures in China slipped more than 2% as mills and traders liquidated positions ahead of year-end loan repayments. Australia earlier slashed its price forecast for iron-ore in 2015 by a third to $63/t from $94 in September, saying expectations of a drop in Chinese output to counter a mounting global supply glut had yet to occur.
Iron ore prices fell 3.5% to a 5-1/2 year low on Tuesday on renewed concerns over rising supply, while rebar futures in China slipped more than 2% as mills and traders liquidated positions ahead of year-end loan repayments. Australia earlier slashed its price forecast for iron-ore in 2015 by a third to $63/t from $94 in September, saying expectations of a drop in Chinese output to counter a mounting global supply glut had yet to occur.
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