Goldman said it saw iron ore at $55 a ton this quarter and $45 a ton between July and September, repeating forecasts that the New York-based bank gave in a report earlier.
Bloc to ‘step up trade defence measures’ as Beijing battles for market economy status.
Concerns over demand and strong action by Chinese authorities to curb speculative activity sparked a rout that began in late April and has nearly reversed an earlier price surge.
Demand for refined nickel and ferro-nickel has been rising in China, in part due to the above but also due to the falling availability of nickel ore to feed the country’s nickel-pig iron market.
The dollar’s best month in more than a year faces one last hurdle: Janet Yellen speaks on Friday and any hint of dovishness could spur a reversal for the greenback.
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