[Ferro-Alloys.com] Reuters reported that iron ore prices may drop nearly 10% over the next 3 years as top consumer China's economic growth shifts to a slower gear, threatening to squeeze profits at global miners Vale, Rio Tinto and BHP Billiton.

Closely tied to the fate of the steel intensive Chinese economy, iron ore prices and China's gross domestic product growth both hit 3 year lows this year. Beijing's shift to a more balanced growth model after a decade of investment driven expansion could curb the increase in steel demand.