Goldman Sachs sees 'clear deficit' of iron ore for the rest of the year
Publishing timestamp: 2023-11-09 22:03:47
Summary
Goldman Sachs predicts a shortfall in the iron ore market for the rest of the year due to low inventories and falling production. The magnitude of Beijing's fiscal spending and low iron ore inventory in China contribute to the deficit. However, there are concerns about the property crisis in China and supply disruptions from leading iron ore producers. Goldman Sachs has raised its iron ore price forecast and expects a surge in prices for 2023 and 2024.
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Keywords: vale sa, economy, goldman sachs group inc, business news, beijing, goldman sachs bdc inc, commodity markets, breaking news: economy, china,