Yeh...iron ore prices are falling because forecasts are undershooting...
Not because of plummeting steel prices (rebar off 14-20% in 3 months) or rising protectionism against Chinese steel exports
Not because of Rio/Vale export volumes picking up (Aus June exports est to hit new records)
Not because the Chinese Govt is scrapping 3 yr ban on Valemax vessels (400kt) docking on China shores which result in freight rates comparable with Oz
Not because of marginal suppliers re-entering the fray (Atlas 15Mtpa)
Not because of rising stockpiles (+3Mt WoW)
Not because large majority of steel mills are in the red, with little demand appetite in ST
Nope, it's all about the forecasts right?
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