Iron ore prices are set to fall even further, says Nomura's Matthew Cross, as they catch up with...
Iron ore prices are set to fall even further, says Nomura's Matthew Cross, as they catch up with the steep decline in Shanghai rebar prices. The last time rebar was this cheap, iron ore was about 15% lower, he says. Watch $120/ton - a possible floor for iron ore as this is the level at which Chinese producers have in the past begun to slash production.
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