Iron ore prices keep falling on the background of reserves growth at sea ports of China
Edited by Rhod Mackenzie / 2015-07-07 11:37:53
The prices for iron ore show the longest fall for the past 10 months on the background of reserves growth at the sea ports of China.
According to Metal Bulletin, on July 6th 2015 the price of iron ore with 62% content of iron with delivery to the sea port Qingdao (China) fell by 5.4% to $52.28/ton. Last week the prices fell by 11%. In late June-early July the listing keeps falling for the 8th session straight which is the longest period of fall from August 29th 2014.
According to Capital Economics and Citigroup, due to the continual growth of raw materials extraction, in H2 2015 the price for iron ore might fall below $40/ton.
