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.
"The U.S. dollar is going one way at the moment and it's a major headwind."
- Mark Pervan on Oct 05, 2014