Barclays warns of an imminent sell-off in iron-ore, what’s for the Aussie?

Dhwani Mehta FXStreet

The Barclays Research Team is out with its iron-ore price forecasts for this year, underscoring concerns that a major fall to $ 50/ ton could be soon on the cards.

Key Points via Bloomberg:

"Forecast an imminent sell-off for iron ore"

Prices will average $50/ton in Q2, before recovering throughout H2.

The bank cites three reasons for the price weakness:

The winter restriction season on steel production soon to end.
Port inventories of iron ore are at a record.
The Chinese economy is set to slow.

Forecasts average price of USD70/ton in Q1, USD50/ ton in Q2, USD58/ ton in Q3 and USD62 in Q4.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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