(Bloomberg) Iron ore’s finally catching a break with a jump back into the $60s a ton. But don’t bank on the recovery lasting through to the year-end, according to Academia Capital, a commodities and emerging markets-focused hedge fund, which warns that fundamentals will probably deteriorate.
“I expect iron ore prices to end the year lower, but that the market is vulnerable to a short-covering rally before we get there,” Ivan Szpakowski, chief investment officer at the fund, said in an email. “Iron ore supply and demand is likely to worsen in the second half.”
