The most accurate metals guy predicts 170 a ton by
Post# of 8054
Posted On: 01/02/2013 7:36:02 PM
The most accurate metals guy predicts 170 a ton by june....wow. Get goin CWRN for the love of....this whole India thing is huge too. Groundwater contamination not easily remediababababale.
ron Ore Rallying Most Since 2010 as China Rebounds: Commodities, December 26, 2012*
Iron ore is rallying the most in about two years as analysts predict that China, the biggest buyer, will import a record amount in 2013 as its accelerating economic growth spurs demand for steel.
Trade to China will climb 6.9 percent to 778 million metric tons in 2013, or 65 percent of all shipments, according to the median of 10 analyst estimates compiled by Bloomberg. Seaborne demand will exceed supply for at least a 10th year, Morgan Stanley data show. Prices will climb as much as 26 percent to $170 a ton by June, according to Justin Smirk of Westpac Banking Corp. (WBC), who correctly predicted this year’s slump and was the most accurate industrial-metals forecaster tracked by Bloomberg.
Iron ore is rallying the most in about two years as analysts predict that China, the biggest buyer, will import a record amount in 2013 as its accelerating economic growth spurs demand for steel. Photographer: Qilai Shen/Bloomberg
Prices tumbled to a three-year low in September as China slowed for seven consecutive quarters, before rallying 56 percent since then on mounting confidence the nation’s growth will accelerate for at least the next six months. The rebound will boost earnings for suppliers and Vale SA (VALE5), the biggest exporter, is expected to report a 19 percent increase in profit next year, analyst estimates compiled by Bloomberg show.
“We’re confident to stay bullish for now,” said Smirk, the economist at Westpac in Sydney who beat as many as 25 others in predicting metals prices for two consecutive quarters on a rolling two-year basis. “We’re seeing the recovery come through in China. They’ve made a switch to their policy adjustments from being contractionary to be more stimulatory.”
ron Ore Rallying Most Since 2010 as China Rebounds: Commodities, December 26, 2012*
Iron ore is rallying the most in about two years as analysts predict that China, the biggest buyer, will import a record amount in 2013 as its accelerating economic growth spurs demand for steel.
Trade to China will climb 6.9 percent to 778 million metric tons in 2013, or 65 percent of all shipments, according to the median of 10 analyst estimates compiled by Bloomberg. Seaborne demand will exceed supply for at least a 10th year, Morgan Stanley data show. Prices will climb as much as 26 percent to $170 a ton by June, according to Justin Smirk of Westpac Banking Corp. (WBC), who correctly predicted this year’s slump and was the most accurate industrial-metals forecaster tracked by Bloomberg.
Iron ore is rallying the most in about two years as analysts predict that China, the biggest buyer, will import a record amount in 2013 as its accelerating economic growth spurs demand for steel. Photographer: Qilai Shen/Bloomberg
Prices tumbled to a three-year low in September as China slowed for seven consecutive quarters, before rallying 56 percent since then on mounting confidence the nation’s growth will accelerate for at least the next six months. The rebound will boost earnings for suppliers and Vale SA (VALE5), the biggest exporter, is expected to report a 19 percent increase in profit next year, analyst estimates compiled by Bloomberg show.
“We’re confident to stay bullish for now,” said Smirk, the economist at Westpac in Sydney who beat as many as 25 others in predicting metals prices for two consecutive quarters on a rolling two-year basis. “We’re seeing the recovery come through in China. They’ve made a switch to their policy adjustments from being contractionary to be more stimulatory.”
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