Goldman’s iron ore outlook dims, price expectations slashed

摘要

Goldman Sachs Group Inc. sees further downside in the iron ore market, citing cost deflation and excess capacity as it cut its 2015 price forecast. The New York-based investment bank expects prices for 62-percent metal content iron ore to drop to $66 per tonne c.f.r. China this year, down 18 percent from its previous forecast. Goldman Sachs also cut its forecasts for 2016 and 2017 by almost one-quarter to $61 and $60 per tonne, respectively.