| The resources boom may have faded, but the “super cycle” is far from over. That was the message from the Mining 2014 conference in Brisbane, Australia, with analysts forecasting an upturn even as key commodity prices continue to slide.
On Thursday, the price of iron ore dropped to a five-year low of $75.38 per ton in China, continuing a retreat that has seen the key steelmaking ingredient lose nearly half its value this year on a continued supply glut and weaker demand from China. According to Morgan Stanley, oversupply will drive the price of spot iron ore to $70 a ton by year-end, with the world’s biggest miners continuing to expand output...............................................Full Article: Source
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