Analysts from Commonwealth Bank of Australia (ASX: CBA) believe that the iron ore price is going to keep falling.
There are a number of different opinions out there, but this one comes from Vivek Dhar, an analyst for mining and energy commodities at CBA.
Despite the fact that the iron ore price has roughly halved over the last five months, the call is that iron ore could fall more than 25% to US$85 per tonne by the end of next year, according to reporting by the Australian Financial Review.
The main reason for that negative outlook is because of China’s efforts to reduce its emissions by cutting how much steel is being produced.
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