Iron Ore Seen Below $40 by Citi as Roy Hill `Whale' Starts

Updated on
  • 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.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.