Business
ASX to open lower, Dow and S&P 500 fall – The Australian Financial Review
Australian shares are set for opening losses as late day selling knocked both the Dow and S&P 500. Iron ore retreats.
ING analysts expect an increase of up to 100 million tonnes in iron ore supply next year, and said a quick rollout of coronavirus vaccines could underpin demand and support prices above $US100 a tonne.
“However, a gradual rollout means we would probably see more lacklustre demand growth, which could push the iron ore market back into surplus, weighing on prices,” they said in a note.
JPMorgan has lifted its iron ore price forecasts, and both its earnings estimates and price targets for iron ore…
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