Goldman Sachs upgrades Iron Ore and Copper forecasts

Iron ore rally post-Trump victory has caught most investment banks on the wrong side of the trade. 

The metal now trades around $80 per tonne, which is significantly higher than the most calendar 2017 forecasts. 

Goldman Sachs has hiked its three-month forecast to $65 per tonne. The investment banker has also revised its copper forecast for three months, six months, and 12 months higher to $5800, $6200 and $5600 respectively.