resources demand, page-17

Goldman were the instigators in the bearish down trend now they have a change of view:

Iron ore rally seen short-lived
Date
June 5, 2013


Goldman Sachs commodities analyst Christian Lelong said he remained bullish in the short term for iron ore, saying support would be provided by Chinese high cost producers.

‘‘Our forecast for the second half of this year is between $US130-$US135 per tonne. We would expect the current destocking cycle to eventually reverse and for iron ore prices to make up most of the losses they’ve had," he said.