19.08.2015 - Why Iron Ore Prices Are Set To Fall to US$40
Goldman Sachs isn’t bullish on iron ore. The bank has maintained a negative outlook for the long-term future of prices for some time. And it’s not shifting its position on the troubled commodity. If you’re one of the big Aussie iron ore producers, now is the time to start worrying. The influential bank predicts iron ore prices could fall a further 30% by 2017. It predicts an expanding market supply, in addition to declining Chinese steel production. In other words, prices are heading in one direction only — down. Of particular interest is Goldman’s take on steel production. Once Chinese steel production ‘peaks’, the bank says a sharp contraction will follow suit...............................................Full Article: Source
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