UBS says iron ore prices to stay high
UBS analyst Lachlan Shaw says the investment bank expects limited supply and stimulus from Beijing should keep iron ore prices between a trading range of $US100 a tonne and $US135 a tonne over the next 24 months.“Over the medium term, coupled with moderating supply growth and robust steel export demand, there is upside risk to our price forecasts in 2025/26 if Chinese steel exports hold at healthy levels, China,” UBS said.The strength of iron ore prices currently around $US135 a tonne has propelled Rio Tinto and Fortescue to new share price highs today.
UBS says iron ore prices to stay highUBS analyst Lachlan Shaw...
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