Goldman Sachs raise their iron ore price forecasts
Goldman Sachs revised outlook for iron ore prices
- For Q2 2016, Goldman Sachs has hiked their price forecast by 47% to $55 / metric ton
- Q3 2016 forecast up 20% to $45
- Q4 2016 +14% to to $40
- Full year estimate is 19% higher to $47 a ton
- 2017 & 2018 forecasts have been left unchanged at $35
GS do caution that the rally we've had in the price of iron ore will bring marginal supply back into the market (hence the more cautious 2017 & 2018 forecasts).