The outlook for Aussie iron ore is looking good with a cut in Chinese production — and a recent stock market sell-down could be a buying opportunity for investors.
The benchmark price of iron ore has edged higher this week — to more than $US66 a tonne — on declining port stocks in China.
UBS analyst Glyn Lawcock says it’s a “very healthy” price and Chinese demand for high quality iron ore is on the rise.
Despite that view, about half of the 100 or so ASX stocks with iron ore projects have lost ground over the past year.
And the six-month view is even more sombre — with only about 30 per cent of iron ore-related stocks ahead over that period.
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