Deutsche Bank Says Iron Ore to Trade at $130-$140/DMT CFR Until Summer

Platts reported that analysts from Deutsche Bank said on Tuesday that iron ore prices may remain steady around the $130-$140/dmt on improved steel demand from China.

As quoted in the market news:

The bank’s analysts expect buying to come in from China as a restocking of steel-reliant goods supports prices, with a drop into mid-summer to the $110/dmt level.

“Opportunistic buying from Chinese mills is to be expected following a price correction, furthermore we are hearing reports that some re-stocking of manufactured goods (air-conditioners, washing machines, etc.) is taking place in China,” the bank said in a quarterly report.

Click here to read the full Platts report.