SOURCE: Five Star Equities
NEW YORK, NY--(Marketwire - Mar 29, 2013) - Iron ore miners have been trending downwards in recent weeks on concerns of a further decline in iron ore prices. Goldman Sachs has recently lowered its forecast for iron ore prices due to slowing steel production in China. The firm predicts iron ore prices may average $139 a ton in 2013, down from their previous estimate of $144. Five Star Equities examines the outlook for companies in the Iron Ore Industry and provides equity research on Cliffs Natural Resources Inc. (NYSE: CLF) and Rio Tinto plc (NYSE: RIO).
Access to the full company reports can be found at:
China's steel production and iron ore consumption has commonly experienced double-digit growth rates over the past decade but may have finally reached a plateau. The National Development and Reform Commission forecasts steel output may only rise 4 percent year-over-year to 746 million metric tons in 2013, while iron ore consumption is expected to grow by 4.8 percent, or 50 million tons in 2013.
"Though industry sources say the [global] economy in 2013 will be better than last year and steel demand will certainly grow, downstream demand is only recovering very mildly," the commission said.
Five Star Equities releases regular market updates on the Iron Ore Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at www.FiveStarEquities.com and get exclusive access to our numerous stock reports and industry newsletters.
Cliffs Natural Resources is a major global iron ore producer and a significant producer of high- and low-volatile metallurgical coal. In the Asia-Pacific region, the company supplies steelmakers with direct-shipping fines and lump iron ore. The company reported revenues of $5.9 billion for the full year 2012, a decrease of 11 percent when compared to a year ago.
Rio Tinto's Iron Ore group achieved net underlying earnings of US$9,242 million in 2012, based on record production of 253 million tons (Rio Tinto share: 199 million tons). Shares of the company have fallen roughly 20 percent year-to-date.
Five Star Equities provides Market Research focused on equities that offer growth opportunities, value, and strong potential return. We strive to provide the most up-to-date market activities. We constantly create research reports and newsletters for our members. Five Star Equities has not been compensated by any of the above-mentioned companies. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at: