Goldman Sachs predicts a decline in iron ore prices to $ 60


Experts of the American financial company Goldman Sachs Group Inc (NYSE: GS) believe that iron ore prices may fall to $ 60 per ton in the next six months.

Earlier, in December, the cost of iron ore increased by 11%, showing a record increase over the last year. At the same time, growth did not stop even against the background of news about the problems in the economy of China, the largest consumer of raw materials.

The current price of $ 75 per tonne, according to analysts at Goldman Sachs, cannot last for long. Firstly, because the growth of quotations was partly caused by the storage of the metal on the eve of the new year according to the Chinese calendar. Secondly, due to the increase in supply in 2019.

The material has been provided by InstaForex Company -