Iron ore prices to trend lower in Q4 and into 2023 – ANZ
|Economists at ANZ Bank see limited upside in iron ore prices. They have lowered their end of year target to $115/t.
Iron ore prices to sit under $100/t by end-2023
“We expect the market to swing back into a small surplus in 2023. As such, we see limited upside in iron ore prices.”
“We have lowered our end-of-year target to $115/t and expect prices to trend lower in Q4 and into 2023 as the impact of the stimulus measures peter out and iron ore demand weakens.”
“We ultimately see prices at the end of 2023 sitting under $100/t as the market tightness eases.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.