IRON-ORE
Goldman Sachs Group boosted its iron-ore forecasts after better-than-expected demand in China raised prices, but combined the revised outlook with a warning that it remains bearish on next year on prospects for plentiful mine supplies and a worldwide glut.
The three-month forecast was raised to $70 a metric ton from $55, and the year-end target raised by $5 to $60 a ton, according to a report from analysts including Yubin Fu and Max Layton received on Thursday. Next year, prices are still expected to drop, it said.
This content is only available to subscribers.
Forgot your password? Click here
Don't have any login details?
Free Trial Access