Iron law of economics

“Iron ore prices are coming off because we see massive expansions coming”

Ivan_Glasenberg w

Glencore boss Ivan Glasenberg blames BHP Billiton, Rio Tinto and Vale for falls in iron ore prices, saying the three miners have an “obsession” with increasing supply. Iron ore prices have dropped over a quarter this year to around $95, which is welcome news for China’s beleaguered steelmakers.

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