The Australia reported that the recent surge in iron ore prices has taken the market by surprise and a solid run is forecast to continue into next year,with delayed expansion plans,stronger Chinese growth and falling Chinese inventories set to support healthy levels.
Credit Suisse analysts are forecasting iron ore will trade between USD 130 and USD 140 a tonne for the first month or two of the New Year,with the chance of moving higher in the short term,but they warn that any hint of weaker news on the macro front would send a signal for profit taking.
Source:
http://www.steelguru.com/raw_material_news/Iron_ore_price_recovery_tipped_to_run_into_2013/296686.html
