Goldman Sachs revises down iron ore price forecast for Q4

Thursday, 19 September 2024 14:14:44 (GMT+3)   |   Istanbul

US-based investment banking company Goldman Sachs has revised down its iron ore price forecast for the fourth quarter of 2024 due to global iron ore oversupply and lower demand from China.

Iron ore prices are expected to fall by 15 percent to $85/mt from the current average of $100/mt.

According to the Goldman Sachs report, Chinese steel mills may restock ahead of the “Golden Week” holiday in early October, providing temporary support for iron ore prices.


Similar articles

Iron ore in China edges up amid firm demand, hopes for rebound in steel

23 Oct | Scrap & Raw Materials

Major steel and raw material futures prices in China – October 23, 2025 

23 Oct | Longs and Billet

China’s iron ore output down 3.8 percent in January-September 2025

23 Oct | Steel News

Daily iron ore prices CFR China - October 22, 2025

22 Oct | Scrap & Raw Materials

BHP Billiton’s iron ore output decreases in Q1 FY2025-26

22 Oct | Steel News

Major steel and raw material futures prices in China – October 22, 2025 

22 Oct | Longs and Billet

Daily iron ore prices CFR China - October 21, 2025

21 Oct | Scrap & Raw Materials

Iron ore exports via Port Hedland up 9.6 percent in September 2025 from August

21 Oct | Steel News

Rio Tinto accelerates readiness for Simandou’s inaugural shipment

21 Oct | Steel News

Major steel and raw material futures prices in China – October 21, 2025 

21 Oct | Longs and Billet

Marketplace Offers

DRI
Dimensions:  9 - 16 mm
SUEZ STEEL CO.
HBI
Dimensions:  110 mm
ZISCO TRADING
Lumps
Dimensions:  0 mm
Iron Ore: %62
ZISCO TRADING