Business
Iron ore’s strength catches investors out again – The Australian Financial Review
Analysts have consistently underestimated the strength in iron ore prices for almost two years. Are mining earnings forecasts still too low?
The question remains the same as its been for two years now: How long can the iron ore price remain this buoyant?
RBC is forecasting the iron ore market will remain in deficit again in calendar 2021 due to Vales supply issues and Chinas strong demand. It expects the iron ore price will finish next year at $US122.50 a tonne.
But this is something of an extreme view RBCs price prediction is 23 per cent ahead of consensus. Macquarie, by comparison, expects the price finishes calendar 2021 at $US99…
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