Donnerstag, 11. September 2014

Eisenerz-Industrie, Rio Tinto, Vale, BHP Billiton: Goldman Sachs sieht Ende des goldenen Eisenerz-Zeitalters

Die allwissenden und allmächtigen Goldmänner und ihr jüngstes Statement zur schwer getroffenen Eisenerz-Industrie - natürlich kommt die neue Schock-Prognose wie so oft nach einem schweren Ausverkauf:

Carl Surran, SA News Editor

  • Iron ore continues to slide, hitting fresh five-year lows on concerns about rising supply and slowing demand.

  • Today’s decline - the price of benchmark ore for immediate delivery into China dropped another $1 to $82.20/metric ton - came as Goldman Sachs analysts wrote of "the end of the Iron Age," saying the long period of above trend in profitability enjoyed by the iron ore industry has been destroyed by the billions of dollars major producers have ploughed into new, low-cost capacity.

  • The steelmaking material, which is critical to the profitability of several large mining groups including BHP Billiton (NYSE:BHP), Rio Tinto (NYSE:RIO) and Vale (NYSE:VALE), has dropped by nearly 40% this year, the worst performance among metals and bulk commodities.

  • Goldman forecasts $80 iron ore next year and lowers its estimates for 2016 and 2017 to $79 and $78, respectively; Goldman says big producers will still be able to generate good returns at those prices but their ability to return capital to shareholders will be impaired..




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