Tuesday, August 16, 2016 4:09:11 PM
Axiom Capital cited four reasons to justify its claim: a growing iron ore supply, record high speculation in China's iron ore futures market, a peak in China's port stocks and declining demand for iron ore.
The firm said it expects iron ore prices to fall to below $40 per metric ton and eclipse lows set earlier this year.
Price: 21.73, Change: -0.57, Percent Change: -2.57
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