More today from Ivan Szpakowski of Citi, my new favourite analyst at Bloomie:
“The next decade is shaping up to be a complete reversal of the past decade…Perhaps the greatest structural challenge facing the iron ore market is the rolling over of Chinese iron ore demand, driven by declining domestic steel demand and rising scrap availability…As a result, despite growth from other emerging markets, we forecast a decline in global iron ore demand over the 2020s…
Yep. The bank crushed its long term price from $81 to $55. And sees the 2016-18 period at $40:
Advertisement
A total match with MB.