This is not overly fresh but an ICYMI from the investment bank
The $75 a ton iron ore price is not sustainable for two reasons
- First, part of the rally was fueled by mills restocking ahead of the Chinese New Year
- Second, supply is set to increase in 2019
Morgan Stanley also:
- "we're iron ore bears from here, though, expecting falling crude steel output and growing seaborne supply to ultimately bring price back to the mid-low-$60s/ton"
via Bloomberg