Should you buy BHP, Fortescue, or Rio Tinto shares?

The shares of mining giants BHP Group Ltd (ASX: BHP), Fortescue Metals Group Limited (ASX: FMG), and Rio Tinto Limited (ASX: RIO) have come under a spot of pressure recently.

This has been caused by a reasonably sharp pullback in iron ore prices from their recent highs.

Where next for iron ore prices?

The Goldman Sachs commodities team has been looking into iron ore and has made some changes to its forecasts for the steel making ingredient.

Its team is now expecting a recovery in Brazilian exports and a Chinese environmental policy driven slowdown in steel production to narrow the seaborne iron ore deficit in 2021.

Instead of a 27Mt deficit, it is now forecasting a 9Mt deficit for the year. However, due to the strong start that…