Goldman's Resources team have lowered Resources sector coverage view to Unattractive (from Attractive)

Tom McKay

Goldman's Resources team have lowered Resources sector coverage view to Unattractive (from Attractive). They believe a period of cost deflation is looming and with it the associated negative impacts on long-term prices, margins and valuations. They expect Iron Ore prices to be supported in the near term, however, oversupply in mid CY14 will see prices retreat to marginal support levels thereafter.


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