Why iron ore miners should worry

After a decade of marching higher, the iron ore price is now falling. Quickly. Prices have fallen from about $140 at the start of the year to just over $80 a tonne now, a decline of over 40%. Major mines have embarked on ambitious expansions just as Chinese demand for steel and iron ore is falling. We would normally expect low prices to eliminate supply and, to some extent, that is happening. Iron ore mines in China – the world’s largest and most expensive producer – are closing: production is expected to fall about 15% this year and again next...

After a decade of marching higher, the iron ore price is now falling. Quickly. Prices have fallen from about $140 at the start of the year to just over $80 a tonne now, a decline of over 40%. Major mines have embarked on ambitious expansions just as Chinese demand for steel and iron ore is falling.

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