metals

Metals – Iron ore breaks below $90/t

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Iron ore prices sank below $90/t for the first time since 2022 yesterday as China gloom continues to deepen. Iron ore is one of the worst-performing commodities so far this year, with prices now down about 33% year-to-date. We believe price risks are increasingly skewed to the downside for the industrial metal as the outlook in China, the biggest buyer, continues to deteriorate. Iron ore port holdings in China continue to rise, now back above 150 million tonnes and standing at their highest ever for the time of year, a sign of abundant seaborne supplies. 

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Spot Gold Forecast: Bullion Looks to extend correction

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MCX Gold Target 98,500 Very Very Soon, Buy on Dips [21 April 2025]

Spot Gold Forecast: The US markets will be closed due to the Labor Day holiday on Monday and as such market action is likely to remain subdued. In the early trading hours of the Asian session on Tuesday, the Caixin Services PMI data from China will be watched closely by market participants. A reading below 50 could remind investors of the slowdown in the world’s second-biggest economy and hurt gold. On the other hand, an unexpected improvement in the data could help the market mood improve, providing relief for the precious metal.

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