Livewire has acquired Market Index, the country’s leader in free stock market data.
Find out why.

UBS: Short term pain but Australian iron ore producers likely to weather the storm

James Marlay

Livewire Markets

UBS: Short term pain but Australian iron ore producers likely to weather the storm. UBS commodities analyst Daniel Morgan told the ABC the current price pain in iron ore is likely to be short lived. Steel production rates at this time every year in China tend to roll over and as that occurs, the need to buy iron ore reduces somewhat and for a short period of time, steel mills don't need to be active in the market. But that can drive an iron ore price decline in the short term. On the iron ore price he says he anticipates the current weakness to be short lived. It'll be days, weeks, not months, and there will be a sharp recovery on the other side. So I think towards the end of the year prices will be back above $100 a tonne, in my view. Full report via the ABC: (VIEW LINK)


1 topic

James Marlay
Co Founder
Livewire Markets

Livewire is Australia’s #1 website for expert investment analysis. We work with leading investment professionals to deliver curated content that helps investors make confident and informed decisions. Safe investing and thanks for reading Livewire.

Expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.