Iron ore prices close to bottoming: Evans

摘要

Falls in bulk commodity prices have sent an economic chill across Australia, but according to one of Australia's most respected economic commentators, prices for commodities such as iron ore and coal are close to bottoming out. "I can't dispute the fact that bulk commodity prices could fall further based on the fact that this inventory unwind has further to go in China, but we expect that these prices will be near the bottom somewhere around the end of the year," Westpac Bank chief economist Bill Evans recently told the RIU Good Oil Conference in Fremantle.