Morgan Stanley Raises Iron Ore Outlook After Surprise Rally

  • Prices to trade in $45-$55 range through September, bank says
  • Raw material seen averaging $35/ton in final quarter of 2016

Morgan Stanley raised its iron ore outlook for this year and 2017 after prices rallied in the first six months, saying that the top suppliers in Australia are managing the addition of new supply and steel demand in China will remain supported.

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