Australia forecasts iron-ore price will average $62 a tonne this year - FT

The latest Australian Department of Industry Resources and Energy is out with its quarterly report, reflecting a negative outlook for iron-ore prices in the coming years.

Key Details via FT:

Australia forecasts iron ore to fall below $50 by 2018

Price will average $62 a tonne this year

Down to $48 a tonne in 2018

Iron ore exports are forecast to fall to A$54.7bn in 2018-19 from $65bn in 2016-17