Ex-Rio Economist Says Iron May Sink in 2016 as Glut Persists

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  • Prices are headed for another year of weakness, Humphreys says
  • Surplus steel capacity in China needs to be bulldozed, he says

Iron ore will extend declines into 2016 as weakening steel output hurts demand while the world’s biggest suppliers raise production further, according to a former chief economist at Rio Tinto Group, who said China would do well to demolish unneeded mills.

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