Oversupply has China facing drop in '06 iron ore prices, agency says

Dec 06, 2005 | 09:30 AM | Hongmei Li

Iron ore prices should fall in 2006 as growth in supply will outstrip increased demand by 12 million tonnes, China's Ministry of Commerce said.

Major suppliers will put another 62 million tonnes of iron ore into the market next year, exceeding demand growth of 50 million tonnes, the ministry said in a statement Monday.....

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