Spot iron ore prices to fallto $40/dmt by 2017: Goldman

摘要

Seaborne iron ore prices will remainon a downtrend over the next two years,declining to the $40/dmt CFR China level in2017, investment bank Goldman Sachs said in anote Thursday."We expect prices to decline ... to $44/dmt[CFR China] next year and $40/dmt in 2017,"Goldman analysts said.The Platts 62% Fe Iron Ore Index (IODEX)was assessed at $45.30/dmt CFR North ChinaThursday, relatively close to Goldman's 2016forecast. Goldman said the iron ore market wasstill "oversupplied" and "prices must overshootrelative to marginal production costs in order totrigger mine closures on a sufficient scale."