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VIEW: MS Sees Downside Risk To Prices From Reduced China Demand

IRON ORE

Morgan Stanley sees iron ore prices trending down over the rest of 2023 as it expects a surplus in the commodity. Demand from China’s steel makers is already easing with the peak in production a month earlier than the last two years. China’s iron ore port inventories have been fairly stable but this could change as steel production is reduced further to catch up “with the reality of sluggish underlying demand” according to Morgan Stanley. (The Australian)

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