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Global Markets: “Iron ore may fall below $ 40t this year, Chinese economist says

Glencore - Rio Tinto Merger
iron ore mine, Australia

Iron ore may reach a level of less than $ 40 per metric ton this year, amid a backdrop of increasing low cost supply and decreased demand from China. The statement was made yesterday (5) by Andy Xie, former chief economist for Asia Pacific at Morgan Stanley, who predicted the collapse of the commodity from the peak in 2011.

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