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Citi: Iron ore prices may further decline to $80 per tonne
Jinshi data on August 20th, according to Citigroup's analysis, as Asian steel producers are reducing production, iron ore prices may further decline to the range of $80 per ton. Citigroup has lowered price forecasts and stated that market dynamics have changed. Citigroup analysts, including Shreyas Madabushi, said in the report, "Prices need to soften further to rebalance the market. In the past, buying opportunities for attractive iron ore were provided when prices fell below $100 per ton, but this time seems different."