Citi says there is a temporary window in commodity markets to make some money, with the broker betting that iron ore prices could hit $US120 a tonne if China continues with its stimulus blitz.
The broker has turned tactically bullish on base metals and iron ore for the coming weeks to capitalise on Beijing’s widely anticipated policy pivot. But it warned its impact would fade as the US election and recession risks come to the fore and when the higher prices start to hit demand.
