Iron Ore Retreats as Shipments, Market Balance Take Spotlight
- Goldman expects market to enter a surplus in 2H of 2021
- Brazil shipments in April rose compared with March average
This article is for subscribers only.
Iron ore futures fell in China as investors weighed export data from top shippers and elevated stockpiles of the steel-making material.
Goldman Sachs Group Inc. expects the market to enter a surplus in the second half of the year on higher Brazilian exports, bank analysts wrote in a note, adding they see prices falling back to $110 a ton by the fourth quarter and below $100 in 2022.