- J.P. Morgan cuts its 2014 iron ore price forecast by 6% to $118/metric ton, expecting demand from China will grow more slowly to 3.5% from 5% previously, while the likes of Rio Tinto (RIO), BHP and Fortescue (FSUMF) are expected to add ~100M metric tons of supply this year, adding pressure on pricing.
- Iron ore climbed 4% in Shanghai to $116.8/ton yesterday, trimming the quarterly decline to 13%, meaning JPM basically is expecting iron ore prices to be at the current spot level this year.
- The firm still likes Brazilian iron ore producer Vale (VALE), saying it will generate positive cash flow even at the lower iron ore price.
J.P. Morgan lowers 2014 iron ore price forecast, still likes Vale
From other sites
at Nasdaq.com (Mar 3, 2015)
at Benzinga.com (Feb 24, 2015)
at Investor's Business Daily (Feb 12, 2015)
at Nasdaq.com (Feb 12, 2015)
at CNBC.com (Jan 19, 2015)
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