Friday saw metals pare weekly gains, but iron ore remained above $US107/MT when many thought it would now already be flirting with the psychological $US100 area. Analysts are bearish on the bulk commodity due to increased supply hitting the market later this year, but December 2026 Futures are still trading above $US95, a level where there are still huge profits to be enjoyed from the likes of BHP and RIO – MM is still looking for begrudging upgrades are likely for the ASX major miners moving through 2025 as sentiment toward China and increased demand slowly gathers momentum.
- We believe analysts are too bearish about the bulk commodity and can see it hold above $US100/MT for longer than many expect.
MM is cautiously bullish about iron ore
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