February 2013 | Steel Raw Materials
The recurring joys of being a big miner: Iron Ore Highlights
Leaving a greater incentive for domestic production to step up.
Iron ore prices have entered a week of inactivity marked by the Chinese holidays. Since last week, and yet again contrary to our expectations of a price fall, prices have risen to $155.89/tonne on Thursday, and are expected to stay flat throughout the holiday period. At this point, we reflect on the big miners; the longer prices stay this high, the greater the benefits they will reap. Indeed, they will cash in on the higher quarterly average in the contract prices for Q2 2013.
Import competitiveness wears thin...
The long period of appreciation of iron ore imports has eroded significantly the price discount at which they are usually traded. If we compare domestic concentrates and import fines, the price discount of import fines has fallen by 68.7%...
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