Barclays say iron ore to fall to average USD50 a ton in the April to June quarter
- "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 weaker price
- the winter restriction season on steel production soon to end
- port inventories of iron ore are at record
- Chinese economy is set to slow
Forecasts avg price of
- USD70/ton in Q1
- USD50 in Q2
- USD58 in Q3
- USD62 in Q4
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Barclays via Bloomberg