The most resilient metal has been iron ore. Part of the reason has been persistent supply side issues. However, the composition of demand has also played a part, according to strategists at ANZ Bank. Key quotes “Based on real estate’s contribution to steel demand, we estimate annualised demand is likely to be down approximately 120mt. But, assuming the real estate market returns to normal during Q2, we see a hit to demand of around 70mt in H1 2020.” “We are now assuming that seaborne iron ore demand will fall by only 2.5% in 2020. This is against our previous forecast of an increase of 1.6%.” “We are now expecting the iron ore market to push into a small surplus in 2020. This compares favourably with other commodity markets, which should see iron ore prices hold up relatively well. In fact, we see current levels of around US80/t as fair value.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD climbs to weekly tops, further beyond 1.2400 mark FX Street 2 years The most resilient metal has been iron ore. Part of the reason has been persistent supply side issues. However, the composition of demand has also played a part, according to strategists at ANZ Bank. Key quotes “Based on real estate’s contribution to steel demand, we estimate annualised demand is likely to be down approximately 120mt. But, assuming the real estate market returns to normal during Q2, we see a hit to demand of around 70mt in H1 2020.” “We are now assuming that seaborne iron ore demand will fall by only 2.5% in 2020. This is against our previous forecast… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
