Why China will drive the iron ore price lower

In Forager Funds' latest quarterly, Steve Johnson explains how China can orchestrate a lower iron ore price.

Australia's mining boom is well and truly over, with iron ore the latest commodity to nose-dive. News to nobody, the insatiable demand for iron ore from China, which buys most of the world’s seaborne iron ore, has moderated. But the real issue, at least from an Australian perspective, has been the huge amount of new supply added to the market over the course of the decade-long boom. Majors BHP Billiton (BHP), Rio Tinto (RIO), Fortescue Metals (FMG) and Brazil’s Vale S.A. have all expanded operations and are producing record volumes.

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