From Bloomberg:
Iron ore will probably stage a modest rebound next year as China steps up efforts to support the economy including further cuts in interest rates, according to Prestige Economics LLC, which also expects a weaker yuan to support record exports of steel.
“China’s going to need to do more economic stimulus,” Jason Schenker, president of the Austin, Texas-based firm, said in an interview. Prices will trade between $58 and $68 a metric ton next year, he said by phone. That compares with $53.74 last week, as of Oct. 15, and an average of about $58 so far this year.
