Iron-ore faces renewed pressure and prices may sink back below $50 a metric ton before the year-end as rising supply offsets an improvement in Chinese demand, according to Clarksons Platou Securities., which dubbed the raw material its least favourite commodity.
There’s been a pickup in exports this month after a weak performance in July, said Jeremy Sussman, an analyst at Clarksons Platou in New York. Even as steel output in the largest supplier is set to remain resilient this year, iron-ore may sink into the high-$40s, he said in e-mailed comments.
