Treasury delivers iron ore warning

Budget papers predict iron ore prices will drop below $100 per tonne in the year ahead.

Treasury has warned that iron ore prices could fall below $90 ($US83) a tonne within two years due to oversupply and weak demand for steel, but says the slump will be offset by increased demand outside the resource sector that will underpin higher profitability across corporate Australia.

The budget papers predict iron ore prices will drop below $100 per tonne, or $US93, in the year ahead and continue a slow decline until June 2016, sounding alarm bells for marginal producers in the resource sector.

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