(Bloomberg) -- Iron-ore will rise through 2009 for a
record seven consecutive years of price gains as global
production of the key steelmaking raw material fails to meet
Chinese demand, UBS AG said in a report.
Iron ore will climb 25 percent in 2008 and 10 percent in
2009, UBS analysts led by Daniel Brebner wrote in a report
yesterday. That's higher than UBS's previous forecasts for a 10
percent gain in 2008 and no increase in 2009. Macquarie Bank
Ltd. expects 2008 prices to rise 17.5 percent, Citigroup Inc.
forecasts 20 percent and Credit Suisse Group 25 percent.
Read more at Bloomberg Commodities News
record seven consecutive years of price gains as global
production of the key steelmaking raw material fails to meet
Chinese demand, UBS AG said in a report.
Iron ore will climb 25 percent in 2008 and 10 percent in
2009, UBS analysts led by Daniel Brebner wrote in a report
yesterday. That's higher than UBS's previous forecasts for a 10
percent gain in 2008 and no increase in 2009. Macquarie Bank
Ltd. expects 2008 prices to rise 17.5 percent, Citigroup Inc.
forecasts 20 percent and Credit Suisse Group 25 percent.
Read more at Bloomberg Commodities News
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