Iron ore to plunge below $US100 into a bear market: Citi
Alex GluyasMarkets reporter
Citi is tipping iron ore prices to plunge into a bear market in the coming months amid ongoing concerns about Chinese steel demand and an increase in supply of Australia’s key export.
Iron ore traded in the spot market has plummeted 13 per cent to $US107 a tonne in the past fortnight, and Citi is now expecting prices to sink a further 12 per cent from current levels to $US95 a tonne.
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