AUD views the price of iron ore as a critical input.
Of the room :
- “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.