Significant supply of iron ore to hit market in coming years: BHP

Singapore

IRON ore, which entered a bear market two weeks ago, may have more room to fall in its price as significant volumes of new supply come on stream from Australia and Brazil in the coming years, BHP Billiton warned on Thursday.

Still, the world's biggest miner by market capitalisation is optimistic on the long-term prospects for the steelmaking ingredient as emerging economies in Asia further industrialise and urbanise.