Plunging iron ore prices continue to weigh on the ASX's major miners.
BHP Group Ltd (ASX: BHP), Rio Tinto Ltd (ASX: RIO), and Fortescue Ltd (ASX: FMG) have all seen their prices edge lower on Thursday.
The price of iron ore has dropped below US$93 on the Singapore Exchange, marking a 9-month low.
And analysts are expecting further declines.
Citigroup and Goldman Sachs have cut their iron ore price forecasts.
Goldman Sachs previously stated that it expects iron ore spot prices to average at around US$85 per tonne in the final quarter of this calendar year.
Citigroup has now lowered its three-month price forecast to $90 a tonne from $100, and the six-to-twelve-month target was cut to $85 from $90.
