Iron ore is about to collapse back to $50 a metric ton, according to Barclays Plc, which warns the commodity faces an imminent sell-off as steel mills’ profitability in China recedes, growth in the top importer slows and supplies at ports are at unprecedented levels. “There are several surprises in store,” analyst Dane Davis said in a note, predicting a slump that will bottom in the second quarter before recovering over the next six months. Spot ore was last at $75.71 a dry ton, according to Metal Bulletin Ltd.
Source: Bloomberg Pro Terminal
Jr Trader Alexander Kumanov
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