Iron ore weakness to continue into 2025 and beyond, says Fitch Solutions’ BMI
Looking beyond 2024-2025, BMI analysts maintained their view that iron ore prices will likely follow a multi-year downtrend.
We feel that some commodity prices are getting overextended and very close to their tipping pint. Far from an ultimate top but ready for a healthy correction. Crude traded to its highest level in two weeks but could not manage a positive close. We favor a trade lower but would be quick to let the trade go at a loss to clients on a settlement above $114. We’re eager to get some bearish exposure in the distillates as we feel a violent correction could occur but we must first see signs of a top which has yet to happen.
