AUD Bullish: Goldman Sachs ups iron-ore price forecast

Analysts at Goldman Sachs revised higher their iron-ore price forecasts for the 3, 6, and 12-month horizons.

Key Quotes:

"Three-month forecast raised to $85/ton vs. $80 previous.

Six-month forecast raised to $80/ton vs. $75 previous.

The twelve-month forecast now seen at $70/ton vs.  $65 previous.

The upward revision is mainly attributed to the lost production due to Vale's troubles in Brazil.”