Goldman observed that low iron ore inventory in China, the world’s third largest producer, is also set to contribute to the shortfall.“With onshore mill restocking risk ahead of Chinese New Year and low supply chain inventories to buffer against supply disruption risk, the risk is skewed to the upside near term.”The expected shortfall is a reversal from Goldman’s previous forecast for a surplus, with the investment bank’s analysts raising their iron ore price forecast by as much as over 20 per cent.
Goldman Sachs sees ‘clear deficit’ of iron ore
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