Goldman Sachs raises next year's iron ore price forecast but maintains a bearish stance
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Goldman Sachs raised its iron ore price forecast for 2026 to USD 93 per ton but maintained a bearish stance, expecting prices to decline next year. Analysts pointed out that the iron ore market is experiencing tight supply due to factors such as macroeconomic support, inventory tightening, and strong steel production in China. Although iron ore futures prices have rebounded by about 15%, demand remains under pressure, and prices are expected to fall to USD 88 per ton by the last quarter of 2026
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