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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 383.12

+0.8%

Nov 26 4:00 PM EST

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To: Snowshoe who wrote (108009)	11/11/2014 6:58:16 PM
From: Snowshoe	Read Replies (1) of 218059

Sliding deeper into a commodity bust... Iron Ore Seen by Citigroup Below $60 as 2015 Forecast Cut bloomberg.com Iron ore prices will plummet to less than $60 a metric ton next year as global supply increases and demand remains weak, according to Citigroup Inc., which slashed its quarterly forecasts for 2015 by as much as 23 percent. ***** Iron ore lost 44 percent this year as surging supplies from BHP Billiton Ltd. (BHP) and Rio Tinto Group in Australia and Brazil’s Vale SA (VALE5) created a glut just as China’s economy slowed. The surplus will more than double next year, according to Australia & New Zealand Banking Group Ltd., which yesterday cut price forecasts through 2017. Falling ore prices are having a direct impact on Australia’s budget, Treasurer Joe Hockey said today. “We expect renewed supply growth to once again drive the market lower in 2015, combined with further demand weakness,” Szpakowski wrote in the report, predicting the price will dip into the $50s a ton in the third quarter. “We still have a long way to go” in the bear market, he said in a phone interview.

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