Moody’s warns on iron ore price falls

[miningmx.com] – IRON ore prices may have further to fall and could result in ratings adjustments of producers of the mineral, said Bloomberg News citing an emailed report by Moody’s.

“Iron ore prices have collapsed,’ Moody’s said in the report, which was dated October 17. “With slowing global steel-production growth rates, iron ore prices remain vulnerable to the downside and we expect continued volatility,’ Moody’s said.

“Downward rating actions for iron ore producers could result as Moody’s reassesses the impact of a protracted pricing weakness,’ it said. The so-called price sensitivity for iron ore was revised to a range of $75 to $85 a ton through 2016, according to the report.

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