Iron Ore Caps Monthly Decline as Seaborne Supplies Increase
This article is for subscribers only.
Iron ore completed a monthly loss as Goldman Sachs Group Inc. said it may cut its forecast of $80 a metric ton for 2015 amid competition among seaborne producers.
Ore with 62 percent content delivered to Qingdao in China slumped 10.4 percent this month after reaching $68.49 a dry ton on Nov. 26, the lowest level since June 2009, according to data compiled by Metal Bulletin Ltd. Prices advanced 1.9 percent to $71.32 today, posting the first weekly gain in six.