Iron ore rally short-lived, prices to come off: Goldman Sachs

From Huileng Tan at CNBC:

Hard data however is not supportive of the [recent iron ore] price moves.

“We are yet to find evidence of higher-than-expected steel demand – whether in the order books of individual steel producers or in the official data for new orders. Based on the information currently available, the seasonal increase in demand appears only marginally stronger than last year,” Goldman Sachs said.

Source: Iron ore rally short-lived, prices to come off: Goldman Sachs

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