Goldman Sachs said that iron ore’s rally “will likely prove temporary,” the bank said in a note that maintained an end-of-year target of $35 a ton.
In the same direction, Citigroup said it’s still bearish and Axiom Capital Management Inc. said the jump was probably just a blip. BHP Billiton Ltd. added to the chorus, saying the advance didn’t change its mid- to long-term outlook.
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