The 29% fall in iron ore prices so far in 2014 looks set to continue into 2015, on the back of surging supply from the major producers

The 29% fall in iron ore prices so far in 2014 looks set to continue into 2015, on the back of surging supply from the major producers. Goldman Sachs has commented in a note that while the expansion in supply will probably moderate in the second half of 2014, the trend rate of growth in seaborne cargoes exceeds demand by a ratio of three to one. Goldman has maintained its iron ore price forecast at an average of $80/t for 2015, down from $106/t this year.