Via Bloomie comes Goldman:
The raw material may fall to $60 a ton in three months, $55 in six and $50 in 12, according to the New York-based bank’s projections…
The forecast for lower prices “is mainly because we see steel production in China peaking and should fall going forward and iron ore supply is still growing, with S11D ramping up,” analyst Hui Shan said in an email to Bloomberg, referring to Vale SA’s giant new mine.
