19.05.2016 - Iron Ore Faces Second-Half Slump as Frenzy Cools, Supply Builds
After last month’s speculative rally, iron ore is likely to extend declines because of rising supply from the major producers and faltering demand in China, the biggest buyer. “Supply is likely to increase in the second half, so market conditions may ease further,” Rajiv Mukerji, group director of strategic procurement at Tata Steel Ltd., said. He’ll be speaking at a conference in Singapore on Thursday that’s being attended by producers including BHP Billiton Ltd. and Vale SA. Iron ore has retreated from a 15-month high after widespread predictions the frenzy in China that propelled prices upward in April wouldn’t endure as regulators clamped down and the rallies induced higher production...............................................Full Article: Source
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