The bank’s analysts believe that the price of this raw material will be around $100/t by the end of the year

US investment bank Goldman Sachs has not changed its iron ore price forecast for the second half of 2024, The Australian Business Review reports.

The bank’s analysts continue to expect the price of benchmark ore with a 62% iron content to be around $100/t by the end of this year.

As for coking coal, Goldman predicts that the market will be generally balanced in 2024-2026. Growing demand in India will be offset by a moderate recovery in supply in Australia.

At the same time, analysts expect a shortage of this raw material from 2027, which will be caused by insufficient investment in new premium coal supplies in Australia and Canada.