By Purchasing Staff -- Purchasing, 3/12/2009 2:00:00 AM
A median estimate of eight analysts surveyed by Bloomberg News found that contract iron ore prices could drop 30% this year as steel production has dropped in a variety of markets. Iron ore for shipment to Chinese ports was at $82/metric ton in late February, according to data compiled by Metal Bulletin. The spot price has fallen 58% in the past 12 months.
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