Iron Ore Seen Below $40 by Citi as Roy Hill `Whale' StartsBy
Lower prices forecast as steel mills in China cut production
Roy Hill's ramp-up expected to have a `large price impact'
New supply from Gina Rinehart’s Roy Hill iron ore mine will contribute to a slump below $40 a metric ton next year, according to Citigroup Inc., which said lower steel output in China would also hurt the commodity.
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