China’s Iron Ore Production May Fall Less than Forecast, Goldman

Bloomberg reported today that Goldman Sachs has softened its outlook in terms of the extent to which China will cut its iron ore production.

As quoted in the publication:

Output may decline 10 percent over the two years to 2015, trimming production by 40 million tons, Goldman Sachs Australia Pty’s Global Investment Research Executive Director Christian Lelong said in an interview in Sydney on July 4. That compares with a JP Morgan Chase & Co. forecast that predicts China will need to cut about 64 million tons in 2014 and a further 85 million tons by 2017 to keep the market balanced.

Click here to read the full Bloomberg article.