Australia Cuts Iron Ore Price Forecast by One-Third for 2015
PERTH, AUSTRALIA--December 31, 2014--Researched by Industrial Info Resources Australia (Perth, Australia)--Australia has reduced its iron ore price forecast by 33% to $63 per tonne for 2015. The metal hit a five-year low of $68 per tonne just before Christmas. The government of Western Australia has announced the set of cutbacks and savings to tackle a $1.8 billion budget deficit, which was caused in part by falling royalty payments from iron ore producers.
Within this article: Overview of iron ore prices in Western Australia.
Featured companies: BHP Billiton (NYSE:BHP), Rio Tinto plc (NYSE:RIO), Vale S.A. (NYSE:VALE)