Iron-ore seen between $ 60-70/ t range – Goldman Sachs

Dhwani Mehta FXStreet

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.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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