Iron ore price, page-33365

@NLC - when you have the opinion writers and predictors like Goldman, Fools at motley, Morningstar Premium giving a valuation in low $18
with no retraction when they get their predictions wrong. If I recall Goldman was sating a sell for CBA when the price hit $50 and still suggests optimum price of $80 - when this has been trading over $100. See the Goldman report and I quote from IG:
QUOTE

Goldman View

Getting back to FMG in particular, with iron ore prices still high and the stock itself trading at multi-year highs, one is left wondering if the company is overvalued.

Goldman Sachs thinks the answer is yes. The investment bank this week slapped a Sell rating (from Neutral) on FMG and lowered their price target to $18.9 per share (down from $20.4 per share).

What was their rationale?

Macro View: Centrally, Goldman has a negative view on the outlook for iron ore, arguing that the expectation is for the: ‘Market to enter a surplus in 2H21 on higher Brazilian exports and see the price falling back to US$110/t by 4Q even with a 4-5% increase in global steel production, and to below US$100/t in 2022.’

The investment bank also believes that China’s recent push to curb emissions within its steel industry will be a negative for lower grade producers, such as FMG.

UNQUOTE
They have been consistently calling lower IO price when the opposite is occurring even now - yet no response from their late 2020 predictions.
Fools of Mot or Morningstar - no different!

Do you think Brazil will recover in 2H21?