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JP Morgan raise their forecasts for iron ore citing 'resilient' China

JP Morgan analysts with a note on mining stocks, Rio Tinto and others re iron ore are being viewed favourably.On China JPM have this to say:China steel demand has proven more resilient as infrastructure demand offsets poor property sector demand (both ~30% of China steel demand) and excess output is finding its way to the export market. With the iron ore market relatively more balanced medium term, we raise our 2023-25 iron ore price forecasts +6%/+13%/17%For the FX folks a higher iron ore price... Read More

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Posted: Sep 14 2023, 20:51

Author Name: forexlive

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