IRON ORE PRICES TO TURN DOWNWARDS

We forecast that the Iron Ore Price Ride is at the end. In September 2012 iron ore price was at the level of 99 US$ per dry metric ton, reaching 150 US$ in February 2013. 

From now on, I forecast that Iron Ore Prices will turn down. Last week Indian iron exports to China went down by 5 US$/dry Mt. 

A new perfect storm is beeing generated in the World Economy: 

- Unenmployment record in EU

- Expending cuts in USA starting March 2013

- China inland inflation control policies

- Latin America countries will see mining exports revenues going down