Iron ore seen extending price surge through $US110 tonne: Liberium.
The spot price of iron ore topped $US100 a tonne on Friday and it could surge at least another 10 per cent, Liberum Capital forecasts.
As a result, the London-based firm has upgraded its recommendations on Rio Tinto, BHP Group and Anglo American to "buy" from "sell".
Key to Liberum's bullish view is its assessment that the credit cycle has turned and the escalation in the trade war between the US and China increases the possibility of more accommodative monetary
In this tepid demand environment, we have made significant upgrades to our iron ore price forecasts and now see risks prices could surge well through $US110 a tonne in the second half of 2019," the firm said in a research report on Friday.
As a result, the London-based firm has upgraded its recommendations on Rio Tinto, BHP Group and Anglo American to "buy" from "sell".
Iron ore seen extending price surge through $US110 tonne:...
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