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Goldman Sees China’s Iron Ore Production Falling 10%

Posted on 08 July 2014

Cuts to China’s iron ore production will be less than forecasts, with increased output at some lower cost inland mines offsetting closures at smaller coastal mines, according to Goldman Sachs Group Inc. (GS)
Output may decline 10 percent over the two years to 2015, trimming production by 40 million tons, Goldman Sachs Australia Pty’s Global Investment Research Executive Director Christian Lelong said in an interview in Sydney on July 4. That compares with a JP Morgan Chase & Co. forecast that predicts China will need to cut about 64 million tons in 2014 and a further 85 million tons by 2017 to keep the market balanced……………………………………..Full Article: Source


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