Marubeni: rock bottom picked for iron ore price

Original article by Peter Ker, Max Mason, Scott Parker
The Australian Financial Review – Page: 13 & 21 : 15-Oct-14

The benchmark iron ore price rose by 4.9 per cent to $US84.17 per tonne on 14 October 2014, clawing back some its losses of recent weeks. Marubeni Corporation’s Shinji Kawai expects the iron ore price to rise in 2015, although he anticipates that it will remain below $US100/tonne. Japan-based Marubeni holds a 15 per cent stake in Hancock Prospecting’s Roy Hill iron ore project. The group also holds stakes in coal mines owned by Rio Tinto, Anglo American and Glencore

CORPORATES
MARUBENI CORPORATION, HANCOCK PROSPECTING PTY LTD, RIO TINTO LIMITED – ASX RIO, ANGLO AMERICAN PLC, GLENCORE PLC, BHP BILLITON LIMITED – ASX BHP, FORTESCUE METALS GROUP LIMITED – ASX FMG, MOUNT GIBSON IRON LIMITED – ASX MGX, ATLAS IRON LIMITED – ASX AGO, BC IRON LIMITED – ASX BCI, POSCO, CHINA STEEL CORPORATION, CHINA. NATIONAL BUREAU OF STATISTICS, UBS HOLDINGS PTY LTD, VALE SA, CITIBANK PTY LTD

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