In the Australian media:

  • UBS is sticking to its forecasts for iron ore price, global commodity research analystsat the firm say it will drop to US$71 a tonne (iron ore was around US$129 a tonne yesterday)
  • Says China peak production this year in steel has already passed
  • “Such a price will be part of a short, sharp correction that will last a few days or as long as a week,”