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Iron ore heads for bear market: Commodities

Posted on 04 October 2012

Iron ore, the commodity most leveraged to China’s growth and Australia’s biggest export earner, is heading for the longest bear market in 20 years.
Vale SA, Rio Tinto Group and BHP Billiton Ltd., which control about two-thirds of seaborne iron ore supply, are spending about $47 billion on new and bigger iron ore mines from Brazil to Australia. The new cargoes are set to reach the global market just as China changes gear to lower growth expectations, following what may become its weakest performance since 1990………………………………………..Full Article: Source


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