Iron ore price negotiations on the eve of an international investment bank, predicted triple – steel

Iron ore price negotiations on the eve of an international investment bank, predicted triple – steel

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Foreign Iron ore talks Between the main body is still embarrassing relative, the Voice has long been surging prices. Recently, several large international investment banks have raised its fiscal year 2010 Iron ore Benchmark contract price forecast up from the originally forecast 10 to 20 percent, soared to rise 35% to 50%. This almost 2005-2008 iron ore negotiations as a prelude to a difficult situation. Although not yet begun formal negotiations, but the psychological implications of different gains, as high pressure generally makes the Chinese side in 2010 Iron ore price Up 10% -15% expected, has almost come to nothing. “In 2005 and 2008, prices rose 71%, 65%, we expect iron ore prices this year will rise sharply.” January 13, Merrill Lynch (MerrillLynch) in a report Judgement in the case. The same day, the company will rise from 15% expected rate adjustment to 50%, the highest so far, the largest investment bank in the adjustment record. Not every prophecy can come true, not all forecasts are groundless. To be sure, these investment banks are “based on fundamentals,” the report made by the audience throughout the world, including Vale, Rio Tinto, BHP Billiton three major iron ore suppliers, as well as China’s steel industry. “Collective view of the” triple jumpAnnual iron ore negotiations with the pulled up the curtain, the investment banks and research institutions have begun to show its own intensive year long agreement on the new price forecast, it has become customary over the years. Only opened in 2010, is different. Forecast in the previous round, after the release, the investment bank also raised forecasts have continued to act her repertoire. 1 18, Goldman Sachs JBWere said the other investment bank raised its 2010 follow? 2011 benchmark iron ore contract price forecast to rise 20% after forecast, revised base price is expected to rise 35%. This result, with Deutsche Bank on January 13 made the same prediction is now more mainstream investment banking sector, the “collective opinion.” However, this has only Goldman Sachs “triple jump” the latter two steps, just six months ago, Goldman Sachs JBWere in a report to clients said: “We believe that 2010 will be the pricing power of suppliers to re-gain the upper hand, We have Australia’s iron ore price forecast up 10% of the target. ” Because in the not too distant mid-2009, the rate of once a “collective view” of the representatives. Including Barclays Bank has said in a report, two years in 2010,2011, iron ore prices will be a long association grew 5% and 10%. To the end of 2009, the investment bank’s forecast of collective “second jump”, rose to “20% -30%.” Nomura Securities analyst GavinWood that in 2010 iron ore contract prices are expected to rise 30% in 2011, growing by 10%. Is also in this period, including JP Morgan Chase, UBS (UBS) and other well-known investment bank, made up of 20% predicted, the two companies had not yet adjusted to judge. However, on January 18, UBS global commodity analyst TomPrice confirmed to this reporter, after adjustment of the results is determined only on the magnitude and time have yet to be baked to discuss. “In the coming weeks, we may make more than 20% of the forecast.” TomPrice said, “Through my Australia, Britain, the United States and other exchanges in the results, the overall market that iron ore prices in 2010 may up 40% -50%.

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