Original article by Alex Gluyas
The Australian Financial Review – Page: 27 : 9-Aug-23

Iron ore futures in Singapore have fallen to below $US99 per tonne, down from a cyclical high of $US114.95 per tonne in July. Goldman Sachs expects the decline to be sustained, forecasting that the iron ore price will fall by another 12 per cent to $US90/tonne in the second half of 2023. Nicholas Snowdon of Goldman Sachs says factors such as lower steel production in China and an increase in global iron ore supply will result in a 68 million tonne surplus of the steel input in the six months to 31 December.

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