| Citigroup Inc. cut price forecasts for industrial metals and iron ore by as much as 50 percent amid signs Chinese demand is waning as economic growth in the world’s biggest consumer slows. The bank lowered its 2015 nickel forecast by 21 percent and cut its estimate for next year by 15 percent, analysts including Ed Morse wrote in a report e-mailed Monday.
Copper, aluminum, zinc, lead and tin projections for this year and 2016 were also lowered. The bank reduced its iron ore outlook through 2020, with prices seen falling into the $30s, according to the bank...............................................Full Article: Source
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