11
Nov
00:00
Iron ore under $60/t? Banks keep cutting forecasts
Citi Research, part of Citigroup, has slashed its iron ore forecasts for 2015 and 2016 and warned that prices could temporarily sink below $60/tonne in the third quarter of next year. Meanwhile, Australian bank ANZ has also cut its forecast for next year, albeit to a more positive $78/t.
Citi notes that the fundamental question remained the same: what price is necessary to incentivise enough capacity to exit the market. It adds however that Chinese capacity …
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Anonymous
Very good overview of the weekly steel market.
Anonymous