Buying BHP shares? Here’s the latest iron ore price forecast from Goldman Sachs
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The iron ore price ticked up 1.2% over the weekend to trade for US$103.40 per tonne.
That looks to be helping support BHP Group Ltd (ASX: BHP) shares today, with the S&P/ASX 200 Index (ASX: XJO) mining stock up 1.2% at $39.11.
Shares in rival miners focused on digging up the steel-making metal are also catching tailwinds, with the Fortescue Ltd (ASX: FMG) share price up 3.0%, and Rio Tinto Ltd (ASX: RIO) shares up 2.0%.
Having traded below US$100 per tonne for several weeks in January, the iron ore price has defied a raft of bearish forecasts to remain above that psychologically key level for the past two months. Iron ore topped US$107 per tonne in the final days of February.
The latest boost…
