| Australia revised down on Wednesday its forecast iron ore price for 2015 to $92.40 a tonne from $94.60 a tonne previously, citing mounting competition among producers as supply rises.
"Over the next five years, iron ore prices are projected to average between $90 and $95 a tonne," Australian forecaster the Bureau of Resource and Energy Economics (BREE) said in its latest quarterly update. "Further increases in supply indicate increasing price competition will be needed to push more high-cost supply out of the market over the next two years," BREE said...............................................Full Article: Source
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