Sell-side chases iron ore down

Monday 1 May 2017

Sigh:

JP Morgan has lowered its 2017 iron ore price forecast to $US73 vs $US83 a tonne while trimming its target prices for the miners.

While all ratings have been maintained, Fortescue (‘Accumulate’) has been revised to $7.30 vs. $7.60. Rio Tinto (‘Accumulate’) $72.00 vs. $73.00 and BHP Billiton (‘Hold’) revised to $25.00 vs. $26.00.

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.