Citi Lowers Its 2025 Iron Ore Price Forecast to $95/T
Aug 19 (Reuters) -CITI:
SAYS "WE LOWER OUR 0-3M PT PRICES FOR IRON ORE TO $85/T FROM $95/T ON DETERIORATING FUNDAMENTALS DESPITE LAST WEEK’S SELLOFF"
SAYS "WE LOWER OUR 2025 IRON ORE PRICE FORECAST TO $95/T (FROM $100/T) AND REMAIN STRUCTURALLY BEARISH IRON ORE LONGER-TERM, ALTHOUGH PRICES REMAIN SENSITIVE TO BOTH POSITIVE AND NEGATIVE CHINA POLICY SURPRISES"
SAYS "WE LOWER OUR 0-3M PT PRICES FOR AUSTRALIA PREMIUM HARD COKING COAL (PHCC) TO $250/T FROM $275/T BUT WE ARE BULLISH ON SEASONAL UPSIDE THROUGH Q4 AND CONSIDER CURRENT SPOT LEVELS TO BE A GOOD ENTRY POINT FOR CONSUMER HEDGING"
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