Commodity Insight: CBA Iron Ore Price Downgrade. CBA has downgraded iron ore prices by 10% to USD105/t (62% Fe, CFR China) in CY14 and 8% to USD100/t in CY15

Commodity Insight: CBA Iron Ore Price Downgrade. CBA has downgraded iron ore prices by 10% to USD105/t (62% Fe, CFR China) in CY14 and 8% to USD100/t in CY15. Iron ore prices have been weak this year, trading down more than 20% from early April prices of USD116/t to last week's close of USD93.50/t Iron ore prices are weak in part due to seasonal factors. There were limited significant wet weather events that impacted the Pilbara over the wet season, thereby allowing strong volume growth out of the Pilbara over the past three to six months · Brazilian supply was also relatively unscathed by the wet season. Meanwhile, Chinese domestic supply usually ramps up from winter run rates through the months of April, May, June and July as warmer weather in the north of the country allows increased domestic mining activity