The iron ore market has experienced a tumultuous October, with prices now sagging back toward the psychological US$100/t level in choppy trade after peaking at US$110/t earlier in the month. The euphoria over news in late September that Beijing intends to implement a range of monetary and fiscal measures to jump-start China's ailing stock and property markets appears to be wearing off.
Major broker Morgan Stanley has released a new research note titled “DataDig: IO fizzling?” in which it ponders the future path of the iron ore price for the next six months, as well as highlighting the broker’s top ASX iron ore picks. Here’s a snapshot of the report.
