UBS analyst comments on iron ore. Says:
- Iron ore traditionally rallies heading into Christmas, as Chinese steel mills restock ahead of the winter months
- Feedback from China suggests inventory at steel mills is very low but plans are only for a modest restock
- If iron ore finishes the year below $US90, the price could fall below the UBS forecast for 2015 of $US85
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Last week I posted comments from Citigroup, Goldman Sachs, Macqaurie, and ANZ on the iron ore price. Check out the link for their forecasts. (Hint: not a bull among them.)
