Iron ore drops to a new 5-year low
Tuesday, 27 January, 2015
The price of iron ore has continued its fall, dropping 4.3% to hit the lowest point on record since May 2009, as reported in The Sydney Morning Herald.
The ongoing drop in prices is attributed to falling demand in China, coupled with the surplus created by the largest mining companies increasing their low-cost production outputs.
Goldman Sachs is currently predicting an average price of US$66/ton this year, compared to earlier estimates of US$80/ton.
Related News
Mount Thorley Warkworth mine extension approved
Rio Tinto has been given the go-ahead on its planned Mount Thorley Warkworth mine extension by...
Researchers increase pipeline oil flow with electric fields
Researchers have discovered that oil flow in pipelines can be smoothed by applying a strong...
Australian company TSG Consulting launches new services and technology
Australian advanced analytics company TSG Consulting is responding to growing demand for...
