Goldman Sachs: Iron Ore Prices in Q2 2023 to Rise to $150/mt

Goldman Sachs issued a report saying that as the spot market will fall into a severe shortage, and iron ore prices are expected to rise to $150/mt, traders should prepare for a 20% surge in iron ore prices in the second quarter of 2023. It pointed out that the seasonal increase in Chinese steel production in March and April is expected to coincide with short-term supply tightness of iron ore, which will leave the iron ore market with a supply deficit of 35 million mt in the second quarter of 2023.