“We expect prices to trend around US$150/DMT,” she adds.
PhillipCapital analyst Vivian Ye has upgraded her recommendation on Fortress Minerals to “buy” as she sees growth in the demand for iron ore moving forward.
The price of iron ore is also expected to remain resilient with higher infrastructure spending from the Chinese government and slower-than-expected supply growth from Australia and Brazil, notes the analyst in her May 3 report.
