Iron ore is in a bull market — and it won’t run out of steam soon

By Abigail Ng | CNBC

 Iron ore has been in a bull market for more than two years, and it’s not about to end soon, according to Goldman Sachs.

“It would be wrong to say that the bull market for iron ore, you know, is on the cusp of ending,” said Nicholas Snowdon, head of base metals and bulks research at the investment bank.

It will likely only return to a “comfortable position” from 2023, Snowdon said on Tuesday at the Singapore Iron Ore Forum, which is part of Singapore International Ferrous Week.

The bull run started with a supply shock from the Brumadinho dam disaster in 2019, but is now a “material bull market,” Snowdon said, referring to the deadly collapse of a …Full Story