ANZ cuts iron ore price forecast for 2015

FXStreet (Bali) - ANZ has cut its 2015 iron ore forecast to a $78/tonne from $101, Reuters reports, due to oversupply and a slow down in Chinese demand, largest global buyer.

ANZ said, cited by Reuters: "A combination of tough government reform, a weak housing market, and increasing supply mean most see little upside in iron ore prices over the next two years."