Goldman Sachs cuts Q4 iron-ore price forecast by $15/t on supply glut

Goldman Sachs on Monday cut its iron-ore price forecast for the fourth quarter of 2024 by $15, to $85 per metric ton, citing market oversupply even though demand from top consumer China is stabilising.

Dalian iron-ore futures gained last week as the prospect of Chinese stimulus and a recovery in steel demand lifted market sentiment amid the country's faltering economic recovery.