For those interested this has just appeared on macrobusiness.com.au.
(Just posting because a tipsheet I follow has just recommended MGX and I follow iron ore as a potential driver of lower AUD which is important to a sector I do like LT; gold miners)
Cheers
John
Citi cuts iron ore forecast below $60!
Posted by Houses and Holes in
Commodities,
Iron ore priceat 8:56am on November 11, 2014 |
3 comments
Not much to go on except a quick Bloomie headline: CITIGROUP CUTS 2015 IRON ORE PRICE EST. TO $65/T VS $80/T, SAYS IRON ORE PRICES MAY FALL BELOW $60/TON Finally some sanity! RBC has also just cut but not enough: After a sharper-than-expected slide in iron-ore prices, RBC Capital Markets has taken a knife to its forecasts for the next couple of years. It lowers its 2015 average price estimate to US$85/ton from US$100/ton. It also cuts its 2016 forecast to US$85/ton and trims its 2017 forecast to US$80/ton, both from US$95/ton previously. The broker says it expects supply of the bulk commodity to...
