Iron-ore seen between $ 60-70/ t range – Goldman Sachs
|Analysts at the US investment banking giant, Goldman Sachs, offer their view on iron-ore prices, given the recent slump.
Iron-ore futures on Dalian were sold-off into growing fears about an economic slowdown in China and the impact of a trade war between the world's two largest economies. Meanwhile, Shanghai rebar entered a bear market – down more than 20% from seven-year highs hit in August.
Key Highlights:
The correction (ie the price drop) is nearly done.
Attributes some of the price drop to a correction after an overshoot topside.
Outlook is for 60-70 / t range.
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.