Economics
Iron Ore Price Outlook Cut Again by Australia on Supplies
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Australia’s state commodity forecaster cut its iron ore price estimates for this year and 2015, pruning its outlook again as surging production in the world’s largest supplier outpaces demand growth in China.
The commodity will average about $94 a metric ton this year from $105 a ton forecast in June, the Bureau of Resources and Energy Economics said in a quarterly report today. Prices may be $94 a ton in 2015 from $97 estimated in June, it said.