So who's right Ian or Michael? ...if the $US75 price prediction...

So who's right Ian or Michael?

...if the $US75 price prediction of CLSA’s respected analyst Ian Roper comes to fruition.

Mr Roper said earlier this week that the current supply-demand imbalance, brought about through higher production from the likes of BHP Billiton, Rio Tinto and Vale and weaker-than-expected Chinese demand, was only likely to worsen in the coming 12 months.

A prolonged period of prices below $US80 a tonne could lead to the closure of 80 mines, including 13 in Australia, Mr Roper said.

His concerns run counter to confidence from CMC Markets chief market strategist Michael McCarthy, who yesterday said he expected “some recovery” in prices soon, with an average price of between $US100 and $US110 a tonne tipped for the coming year.

http://www.theaustralian.com.au/bus...esh-fiveyear-low/story-e6frg90f-1227048522983