29.04.2015 - Where to next for the iron ore price?
Iron ore rose to its highest level since March last night at $US59.09, and is now up 25 per cent for the month. The rise, which follows BHP Billiton's decision last week to slow the pace of its $US2 billion expansion plan in the Pilbara, comes after the iron ore price suffered its largest quarterly loss since 2009 in the three months through March and fell to a decade-low of $US47.08 a tonne earlier this month. Steel demand in China was down 5 per cent year-on-year during the March quarter. The biggest question facing the industry is whether BHP's slowdown will be matched by Rio, Gina Rinehart's Roy Hill project or Vale, which is halfway through a $US19 billion expansion in Northern Brazil...............................................Full Article: Source
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