“Different this time”: Citibank is betting on continued decline in iron ore
Iron ore prices are expected to fall to as low as $80 ($119) per tonne due to production cuts in China, according to a Citigroup report. The group revised its price forecasts downward, saying market dynamics had changed. “Further price weakness is needed to rebalance the market,” Citigroup analysts including Shreyas Madabushi said in a … Read more