Iron ore rally won’t last: HSBC tips $US39 by 2017

From Stephen Cauchi at SMH:

HSBC is the latest to join a chorus of voices warning that the rally in iron ore prices may be soon be curtailed, with global oversupply and waning demand from China about to kick in.

…..”Iron ore supply has ramped up rapidly in recent years as major projects in Australia and Brazil come on line,” said HSBC.

“The problem, now, is that production is still likely to expand over the rest of the decade as capacity already in Australia and Brazil continues to come on line.”

Source: Iron ore rally won’t last: HSBC tips $US39 by 2017

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