David Einhorn is shorting iron ore, calling the metal a "bubble" and predicting the price could...

|By:, SA News Editor

David Einhorn is shorting iron ore, calling the metal a "bubble" and predicting the price could fall to $100/ton next year and below $80 after that. He thinks China's slowing economy hasn't hit bottom, which also would be bad news for Australia, which exports huge amounts of ore to China. ArcelorMittal (MT) cited weakening iron ore prices for its Q3 loss and pending dividend cut.