Iron-ore market faces oversupply for ‘few more years’ – Unctad report

The supply overhang created by mining companies in Australia and elsewhere continuing to expand iron-ore production is expected to keep the market in a surplus for a “few more years to come”, the United Nations Conference on Trade and Development (Unctad) states. In its ‘Iron Ore Market Report 2015’, Unctad says the supply overhang will keep prices from “rising above a certain level”.