UBS sees iron ore prices slumping at least 50% by Q3 to their lowest level since 2009, as China...

|By:, SA News Editor

UBS sees iron ore prices slumping at least 50% by Q3 to their lowest level since 2009, as China boosts production and global supply climbs. Australia is set to deliver ~80% of total new seaborne supply this year, most of it in H2 as China has “sufficient” ore and steel production declines. But first, rates may jump as a severe cyclone nears Port Hedland, the world’s largest bulk export facility.