| The direction the iron ore price takes has become a hot topic today following comments from the chief executive officer of US-based iron ore producer Cliffs Natural Resources. In a recent phone interview Lourenco Goncalves has said that bearish forecasts that predict iron ore prices dropping to $US40 or $US30 a tonne have been made by people that “don’t know anything” according to the Australian Financial Review.
Instead Mr Goncalves expects prices between US$50 and US$60 a tonne will be sustained thanks to stable demand from China and lower than forecast levels of new supply...............................................Full Article: Source
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