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Goldman Sachs lowers iron ore outlook
Published Thu, Dec 17, 2015 · 09:50 PM
Singapore
GOLDMAN Sachs Group Inc took the axe to its iron ore forecasts, predicting that the price will remain under US$40 a tonne for the next three years as China's slowdown forces the global industry into a long period of hibernation.
Iron ore will average US$38 a tonne next year and US$35 in both 2017 and 2018, analysts Christian Lelong and Amber Cai wrote in a report received on Thursday. The new forec…
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