Iron ore is poised to decline through the end of March as China, the world’s largest user, has a week-long holiday next month and mills buy more domestic supplies, Australia & New Zealand Banking Group Ltd. said.
Australia & New Zealand Banking Group Ltd. lowered its forecast for crude oil in New York by 1 percent next year, citing higher-than-average inventories and slowing economic growth in the U.S.
Australian mining companies are prolonging a supply glut that’s driven coal prices to a four- year low because of freight contracts that make it cheaper to ship at a loss than to cut output.
Coal imports into China, the world’s biggest consumer, jumped 34 percent to a record in July, said Australia & New Zealand Banking Group Ltd.
"Gold prices fell as improving U.S. data dented investor demand despite rising tensions in the Ukraine."
- Mark Pervan on Aug 17, 2014