Nov 18, 2024 (The Australian Financial Review - ABIX via COMTEX) --
The iron ore price fell below US97 per tonne in trading on Friday, and commodity expects have forecast a further decline in 2025. Goldman Sachs expects the iron ore price to average $US95 a tonne in 2025, due to factors such as an oversupply of the steel input in Australia and weak demand from China. The firm anticipates that copper and aluminium will outperform iron ore in 2025, contending that the Chinese government's stimulus measures will boost demand for these metals at the expense of iron ore. Goldman Sachs is also upbeat about the gold price, and still expects it to reach $US3,000 per ounce by the end of 2025..
Publication Date: 19 November 2024
THE GOLDMAN SACHS GROUP INCORPORATED
COMTEX_459938835/2229/2024-11-18T18:06:00
By Alex Gluyas
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