Perfect example of how they get it so wrong
Bloomerg late August 2016, way off the mark
Expectations that iron ore prices will decline in 2H are almost universal. Futures markets project a drop to $43 a metric ton from the current $51, while analysts estimate $45. Lower Chinese steel output, mixed with rising iron ore supplies, are a recipe for falling prices. A massive amount of iron ore trading inside China has affected prices and increased volatility, which may not be entirely reflected in price forecasts.
$7 by Christmas is a doddle!, page-59
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