Goldman warns iron-ore’s jump into $70s ‘is not sustainable’

Iron-ore’s rally over the past month, with benchmark material pushing back into the $70s, is at risk as banks including Goldman Sachs Group and Morgan Stanley warn that prices are poised to drop back. While industry fundamentals have improved, current prices won’t last as more supply is on the way, Goldman analysts including Hui Shan said in a note received on Wednesday. The bank expects a decline to $60 in six months.