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AK Steel (AKS) Stock Hits One-Year Low Today After Citigroup Cuts Iron Ore Forecasts

2015-01-14 23:55:36| Steel - Topix.net

The firm trimmed its outlook as cheaper oil and declines in producers' currencies both bring down supply costs, which signals that the energy rout is feeding through to other commodities, Bloomberg reported. Citigroup predicts iron ore would average $58 per metric ton in 2015 and $62 per metric ton in 2016, down from previous estimates of $65 for both years.

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