Iron ore price begins slow descent to ‘normal’

Original article by Tess Ingram, Lisa Murray
The Australian Financial Review – Page: 17 & 28 : 24-Mar-17

The spot price of iron ore in China has fallen by 7.7 per cent in two days, reaching a low of $US84.99 per tonne. SteelHome’s Du Hongfeng has attributed the fall to a downturn in the price of construction steel in China, which has in turn been prompted by moves by some Chinese cities to introduce stricter regulations for property speculators. Vivek Dhar of the Commonwealth Bank anticipates a "gradual" decline in the iron ore price, forecasting that it will fall to around $US60/tonne by the end of 2017.

CORPORATES
STEELHOME, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, UBS HOLDINGS PTY LTD, CITIC LIMITED, BHP BILLITON LIMITED – ASX BHP

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