Recovery of iron ore prices comes after a recent
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Since then authorities in the area have risen their 2014 iron ore price forecast. In October, Australia’s Bureau of Resources elevated its predicted price to $119, up from $112 in June, citing Chinese demand. The World Bank said in a report last month that ore will average $135 next year, up from a July prediction of $125. Standard Bank expects prices to average $122 next year, 14% more than previously forecast.
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