Morgan Stanley sees iron ore prices rising 60% in 2010

Dow Jones Commodity News reports that “Morgan Stanley has raised its forecast for a 2010 benchmark iron ore price rise to 60% from 20% previously. Morgan Stanley also sees a further 20% increase in ore prices in 2011, a bank analyst report released Friday said.”

According to Wikipedia, “iron ore is the raw material used to make pig iron, which is one of the main raw materials to make steel.”

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