Morgan Stanley Raises Iron Ore Forecast for 2013 as Demand Increases

Bloomberg reported that Morgan Stanley has increased its iron ore prices forecast for 2013 on expectations that China’s economic growth will continue to rise on a rapid pace.

As quoted in the market news:

Prices will average $133 a ton this year, 11 percent more than a previous estimate, analysts Peter Richardson and Joel Crane wrote in a report today. Prices may average $142 in the first quarter and fall to $125 in the third, they said.

Click here to read the full Bloomberg report.