Goldman Sachs raises iron ore and coke price estimates for coming years

International investment bank Goldman Sachs has raised its estimates for iron ore and coke prices in the next few years.
 
According to Goldman Sachs analyst Malcolm Southwood, despite the lower consumption of raw materials in some developed countries as compared to pre-crisis levels, the demand from China and other emerging markets is expected to keep growing. Mr. Southwood predicted that by 2013 fine ore prices from the Pilbara region of Australia will rise to $160/mt, 33.3 percent higher than the previous estimate. By 2014, the prices in question are expected to reach $125/mt, 32 percent higher than the previous estimate. For 2015, the fine iron ore price estimate remains at $95/mt. Furthermore, Goldman Sachs has also raised its coke price estimates for both 2013 and 2014 by 8.6 percent.