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Analysis: New mines put pressure on the iron ore price

The already low prices on iron ore will come under additional pressure in the years ahead due to a growing supply of the commodity from many new mines, far surpassing the demand, says Nordea in its morning briefing.

Photo: Vale

There is a significant pressure on the iron ore price, and it could increase further this year, says Nordea in its morning briefing.

"The iron ore price has decreased almost 40 percent so far this year, and we see a risk that it could drop even further. The decreasing price is caused by factors such as China - the world's largest metal buyer - now placing a smaller emphasis on steel-intensive industries than in the past," says the bank.

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