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?
Yeh...iron ore prices are falling because forecasts are...
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