Goldman Sachs Lowers Q4 Iron-Ore Price Forecast by $15 Amid Supply Surplus

Iron Ore Goldman Sachs Cuts Iron Ore Price Forecast Goldman Sachs on Monday cut its iron-ore price forecast for Q4 2024 by $15 to $85 per metric ton, citing an ongoing supply glut despite steady demand from China, the world’s largest consumer. Short-Term Optimism vs. Long-Term Pressure Dalian iron-ore futures surged last week, driven by hopes for Chinese stimulus measures and recovering steel demand, though China’s economic recovery remains slow. In a note, Goldman analysts cautioned that iron-ore prices could drop further in October due to rising inventory levels, despite short-term sup...