Iron Ore Is Buyers’ Market for Goldman as Supply Will Surge
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Iron ore is a buyers’ market and prices will probably extend declines this half as low-cost supplies expand, according to Goldman Sachs Group Inc.
Recent weakness seen in Australian shipments is only a temporary lull on the way to further expansion, analyst Christian Lelong said in a note received on Tuesday. When operations among major Australian producers are back at full strength, and a new mine at Roy Hill opens in a couple of months, the downward pressure will probably resume, he said.