Cliffs predicts 2012 iron ore price range will match 2011

Oct 28, 2011 | 05:28 PM | Lisa Gordon

Tags  iron ore prices, Cliffs Natural Resources, Joseph Carrabba, Laurie Brlas, Lisa Gordon

PITTSBURGH — A recent pullback in spot iron ore prices appears to be driven by tight credit and a market looking to find its floor, Cliffs Natural Resources Inc. executives said during the company’s third-quarter earnings conference call.

"Iron ore will trade in a band, and we are kind of seeing it at its floor," said Laurie Brlas, Cliffs’ executive vice president and chief financial officer. Prices for 2012 are expected to remain fairly similar to this year’s price range,....

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