Iron Ore Price, page-4438

We can see how institutions change their forecast.

Citi has belatedly upwardly revised its bearish second quarter forecasts for iron ore to $US58 a tonne, from $US44 a tonne previously. The bank's analysts also revised their third quarter view upwards to $US48 a tonne, from $US36.
"We still forecast iron ore to decline below $US40 a tonne by end-2015 as increased low-cost supply and negative steel conversion margins weigh on the market," the note from Citi added.

China port inventory under 80Mt, Steel inventory day, 22 days.
Negative sentiment mainly comes from increasing supply from RIO, Vale as planed, and RoyHill...

I reckon recent fall was attributable to:
- Tax loss selling
- Shorting
- Gap $1.92 is likely to be filled

FMG should reduce their all-in cash cost to US$31/t according to the plan, break-even spot price is US$39/t. At current price, FMG can generate around US$2.5b free cash flow per annum if price remains at US$60/t.

http://www.businessspectator.com.au/news/2015/6/19/commodities/citi-confident-sub-us40-iron-ore