Economist Andy Xie predicts iron to fall below US$40
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Singapore
IRON ore bear Andy Xie is sticking to his guns.
The price will drop below US$40 a tonne before year-end, and trade in the US$30s in 2016 as demand in China sputters, according to Mr Xie, an independent economist who's predicted a collapse since at least 2012. Mills in China will cut output and high-cost iron ore miners will go under, he said.
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