Analysts See Iron Ore Below $100, Weak Chinese Demand - Fortescue (OTC:FSUMF),...

Published on 18 Nov 2024 on Benzinga

Analysts See Iron Ore Below $100, Weak Chinese Demand - Fortescue (OTC:FSUMF),...

Iron ore prices could remain subdued in the near future. Citi analysts see them hovering around $85 per ton by 2026, owing to incremental new supplies, rising inventories, and weak Chinese demand.

“Not only has China's recent stimulus package fallen short of investor expectations, but the weekend's fresh disappointments from the inflation report and FDI data have also reinforced the view that China is still far from stabilizing its beleaguered economy,” said Hebe Chen, market analyst at IG, per News.com.au.

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Analysts See Iron Ore Below $100, Weak Chinese Demand - Fortescue (OTC:FSUMF),...

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