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AUD views the price of iron ore as a critical input.

Of the room :

UBS –

  • “This is partly due to the replenishment of the National Day holidays and so the question mark is how long this continues”
  • “Underlying demand is still not as strong, and we are still uncertain as to how long the current rally will be.”

Morgan Stanley –

  • forecast will average US $ 85 per tonne in the last quarter of 2021
  • We believe iron ore may fall further in Q4 2021 and Q1 2022, but expect a rebound by Q2 as the brakes on China’s steel production are raised and that the revival of infrastructure is being felt.

There is more at this AFR link above.


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