Spot iron ore to breach $40/dmt on new supply: Citi

摘要

Australian seaborne ironore prices look set to tumble below $40/dry mt CFR as new miner Roy Hill beginsexporting by end-October, contributing tosteadily increasing supply, banking giantCitigroup said in a report Monday.Company officials from Roy Hill toldPlatts Monday its first iron ore shipment— a combined cargo of fines and lump— would sail October 21 from PortHedland, bound for South Korean steelmakerPosco.