News Wrap

IN THIS morning’s News Wrap: BHP raises the death toll from the Samarco dam spill in Brazil; Top iron ore shipper predicts prices to fall 19% in 2016; and commodity prices closer to the bottom, Credit Suisse says.

Lou Caruana

BHP raises the death toll from the Samarco dam spill in Brazil

BHP Billiton says all people displaced by November's Samarco disaster will have the opportunity to be relocated into rental housing before Christmas, according to the Australian Financial Review.

The promise comes almost seven weeks after the tragedy in Brazil, and as the official death toll continues to rise.

Top iron ore shipper predicts prices to fall 19% in 2016

The world's biggest iron ore exporter – Australia -- cut its price forecast for next year by 19% as supplies continue to swell and slowing growth in China hurts demand in the biggest user, according to the Australian Financial Review.

Prices will average $41.30 a tonne in 2016 compared with $51.20 forecast in September, Australia's Department of Industry & Science said in a quarterly outlook Tuesday. The department cut its average price for 2015 by 4.7% to $50.40/t.

Commodity prices closer to the bottom, Credit Suisse says

Credit Suisse Private Banking and Wealth Management believes commodity prices are closer to stabilising, according to the Sydney Morning Herald.

The investment team had turned positive on Australian equities for 2016, almost purely on a valuation basis, and said particular value could be found in the beleaguered materials and energy sectors.

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