UBS on the iron ore price rebound - says underlying demand is still not that strong

AUD looks to the price of iron ore as a critical input.  From the piece: UBS -  "It's being driven partly by restocking from the National Day holidays and so the question mark is how long that continues for" "Underlying demand is still not that strong, and we don't have conviction yet as to how long the current rally can endure." Morgan Stanley -  forecasting will average $US85 a tonne during the final quarter of 2021 We believe iron ore can dip further into the fourth quarter of 2021 and first quarter of 2022, but expect a bounce by the second quarter, as China’s steel production curbs are lifted and infrastructure stimulus filters through There is more at that link to the AFR above. 

UBS on the iron ore price rebound - says underlying demand is still not that strong

AUD looks to the price of iron ore as a critical input. 

From the piece:

UBS - 

  • "It's being driven partly by restocking from the National Day holidays and so the question mark is how long that continues for"
  • "Underlying demand is still not that strong, and we don't have conviction yet as to how long the current rally can endure."

Morgan Stanley - 

  • forecasting will average $US85 a tonne during the final quarter of 2021
  • We believe iron ore can dip further into the fourth quarter of 2021 and first quarter of 2022, but expect a bounce by the second quarter, as China’s steel production curbs are lifted and infrastructure stimulus filters through
There is more at that link to the AFR above.