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VIEW: GS Projects Prices To Reach $150/t This Year


Singapore iron ore futures rallied today during APAC trading rising to $127.35/t after closing at $126.54 on Friday. They were buoyed by a report from Goldman Sachs that projects prices to reach $150/t by Q2 this year due to increased demand from China for steel making. GS expects iron ore to be around $135 in 6 months. Bloomberg reported that Chinese steel output rose to its highest in 3 months in early February. (The Australian)

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