Iron ore has defied most forecasts and held above the $US100 a tonne mark for the past year, even briefly spiking to more than $US125 in early January, but Goldman Sachs’ Aurelia Waltham sees two years of declines ahead.
“We forecast the second-month Singapore Exchange (SGX) iron ore contract to average $US95 a tonne in 2025 and extend our forecast to $US90 a tonne in 2026,” Ms Waltham said in a note.
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Timothy Moore writes on equities, commodities and monetary policy. He writes Before the Bell and contributes to the Markets Live blog. Connect with Timothy on Twitter. Email Timothy at timothy.moore@afr.com
