BHP NH - BUZZ – MS raises 2021 iron ore price outlook, sees a tighter market ahead13:10* Morgan Stanley raises 2021 bull case outlook for iron ore prices to $215/t and sees a potential route to a tighter market* Although iron ore is selling off in the quiet period ahead of China's New Year holiday, expects a fresh rally after the break and sustained high prices over the next few years* Says further price support could come from fresh speculative inflows on the Dalian exchange, a strengthening renminbi and high freight rates* Expects heavyweights Vale SA , Rio Tinto and BHP Group to produce at the lower end of their guidance in 2021, leading to a supply-demand gap* Trend of outperforming Chinese steel production and lower output from major miners results in a widening deficit over the next four years, keeping our bull case price forecast.
Thought I would share this post which was posted on Fex thread by @Tench
Looks like coming online at the right time.
GLTAH
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