12
Feb
00:00
ANZ cuts iron ore forecast again
Australia’s ANZ Bank has cut its forecast for iron ore prices in 2015 for the second time in three months to an average of $58/tonne. It says the global iron ore surplus will more than double from last year before the market starts to recover from 2016 onwards.
The new price is barely over half of the $101/t ANZ held until November 2014, Kallanish notes. It then cut its 2015 average price to $78/t.
The cut is premised on the estimate that oversu…
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Very good overview of the weekly steel market.
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