Goldman Sachs has revised its Q4 2024 iron ore price forecast down to $85/t from $100/t, due to strong global supply and weak demand in China.

Iron Ore Prices Expected to Remain Low By ZeroHedge - Sep 15, 2024, 2:00 PM CDT ...

The iron ore technicals are improving, that is clear, but the price remains largely rangebound – oscillating between 91-30-106.35 and more broadly between 83.85-110.40.

Industrial commodities such as iron ore and steel, however, have failed to garner much interest in the face of demand destruction as economic growth has slowed globally.

Spot 62% iron ore , as assessed by commodity price reporting agency Argus, jumped 42% from a close of $79 a tonne on Oct. 31 to finish at $112.15 on Dec. 9.

Copper imports fall 18.5 pct on mth, down 16 pct on yr Iron ore imports fall 13.2 pct on mth, up 13 pct on yr Crude oil imports rise at 3rd highest pace this year (Adds details) By Fayen Wong and ...