Citi cuts iron ore forecasts

CITI Research has further reduced its 2015-16 price forecasts, but has acknowledged that Australian producers are being helped by lower freight rates and oil prices and a depreciating dollar.

Citi cuts iron ore forecasts Citi cuts iron ore forecasts Citi cuts iron ore forecasts Citi cuts iron ore forecasts Citi cuts iron ore forecasts

Already the most bearish on iron ore, Citi has reduced its 2015 forecast to $US58 per tonne from $65/t previously, and its 2016 forecast to $62/t from $65/t.