Bloomberg reported that Morgan Stanley has increased its iron ore prices forecast for 2013 on expectations that China’s economic growth will continue to rise on a rapid pace.
As quoted in the market news:
Prices will average $133 a ton this year, 11 percent more than a previous estimate, analysts Peter Richardson and Joel Crane wrote in a report today. Prices may average $142 in the first quarter and fall to $125 in the third, they said.
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