January 2012 | Steel Raw Materials
Asia returns to trading following Lunar New Year festivities: Iron Ore Highlights
China's domestic prices have been supported by mills buying lower Fe-content material as a way of slowing, but not reduced their capacity.
Chinese domestic iron ore prices were flat last week at Rmb1,094/tonne ($174/tonne) for concentrate and Rmb1,218/tonne ($194/tonne) for pellets amid thin trading owing to the Lunar New Year celebrations. This week marks the end of the global holiday season with the West now back from the Christmas recess and no longer waiting for Asia to return. Asia returned to work yesterday and sentiment is forecast to improve; prices are expected to push higher in the coming days and the MB Iron Ore Index has already climbed, rising $0.43/tonne to $139.36/tonne on 31/01/12. In recent years there has been an upward trend in iron ore prices in the weeks following the New Year, with an average increase of 2.5% in domestic concentrate prices in the past five years.
China's...
ACCESS RESTRICTED
You must be a paid subscriber to view the full content.
Content over 60 days old can only be accessed by subscribers.
Call +44(0)20 7779 8000 with your credit card details or subscribe online.
SUBSCRIBE
Receive unlimited access to all current and archive content going back to 2008 including downloadable pricing data and forecasts. Plus download the latest issue as soon as it’s published.
Subscribe