Spot Price Of Iron Ore During The Year A New Record High - Iron And Steel, Steel, Building Materials

With the new year Iron ore Near the long-term price negotiations

, iron ore spot prices began rising and reached the highest level this year, strong demand from China and outside China, the recovery, so that the investment banks have raised long-term iron ore price increase for next year's expectations.

Yesterday ore import market continued to rise, the grade in 62% of the iron ore spot prices have surged to 107.4 U.S. dollars per ton (including freight), compared with Rio Tinto and the Japanese steel prices long-term contracts signed in 2009, "starting price" higher than 47%. The price of iron ore spot prices during the year is the high point, 3 at the end of this year, the cash Iron ore price Had fallen to the lowest 59.1 U.S. dollars per ton.

Iron ore spot prices rose the occasion, three Brazilian mining giant CVRD, Rio Tinto and BHP Billiton's iron ore is on the 2010 long-term price contracts with steel manufacturing companies around the world to negotiate. Although the annual contract prices are generally lower than spot prices, but spot prices continue to rise, also prices of lung power three major mining companies getting more and more.

"The Chinese government strong and efficient 4 trillion stimulus plan played a surprising result, China's steel industry took the lead out of the woods, and save the global iron ore market in September after crude steel production in Europe by the negative chain regularization, the chain growth rate as high as 21%, so the demand for iron ore also increased rapidly. "steel information organizations" My iron "ore researcher, said high waves.

View of the gradual recovery of the steel industry, major investment banks have raised this week on long-term contract prices of iron ore 2010 forecast, saying the maximum annual iron ore prices may rise 30%, and had they expected the price of remained unchanged or rose 10%.

Such as the Australian bank Macquarie's report on that next year's iron ore price likely to rise a long association 30%, and expected stock price may also continue to rise in the coming months, may rise to 120-130 U.S. dollars per ton above, because the strong recovery in demand outside of China.

And JP Morgan also expects a long association ore prices next year to rise 20%, and in the next two years were up 30% and 10%, "China's steel production continues to grow, now more than pre-crisis levels , outside China's steel production is rising, the steel-making blast furnace shut down during the crisis more than half have been re-started, it needs more iron ore supply. "

Markets outside China, the demand on the recovery of ore in Rio Tinto to sign supply contracts with India also reflects very clearly. Later this month, Rio Tinto will be about 16 million tonnes of Pilbara ore powder mixture to India, this is the first time, Rio Tinto iron ore sales to India, and these ore is priced in accordance with international spot prices. Prior to this, is a major Indian exporter of iron ore.

The largest Chinese iron ore imports in terms of remains in the "singing empty" iron ore prices next year. Recently, as Iron ore talks Guo-Qiang Ma, general manager of Baosteel, the representative says that although China's steel enterprises in the second half of the operating conditions of a certain change, but the full year, profitability remains strong, while foreign enterprises is part of steel at the stage of financial difficulties, so substantial increase in iron ore next year is unlikely, "and then if ore prices, losses will only rise further, and major international iron ore suppliers should be rational, long-term and win-win perspective with the relationship between the downstream steel industry. "

It is noteworthy that, in order to gain more support for the negotiations, most recently including the Secretary-General Shan Shang China Steel Association, China Steel Association, including relevant personnel rushed to Brazil, with local mining companies had to discuss and understand ore supply and demand.

As Brazil's largest mining company Vale do Rio Doce and the recent statement did not give too much face in the Steel Association, the reporter received a statement Vale show, although not involved in the 2010 financial year, CVRD's iron ore long-term price negotiations, but the company believes that the Chinese market because of strong demand, coupled with market demand in Asia and Europe, the continuous recovery of iron ore market is heating up.

by: gaga

POST COMMENT

Welcome Spring With Chinese New Year And Valentines Day 2011 Get A New Hairstyle This Autumn! Chandelier Lighting: for a quality lighting experience Government Support To Boost Solar Power Plants Capacity Huang Ming: The Chinese Solar Energy Heat Utilization Industry "seven Best" - Solar Energy Cometic Medical Training - New Branch In Medical Science Energy Saving High Speed Doors Volona inc Launches New Website to Help Boost Local Economy Adequate Exit and Emergency Lighting is a Must for Your Business Recessed Lighting Tips Solar Cell Manufacturers - Know The Greatest Solar Cell Manufacturers Passive Solar Heating - Using Free Energy From The Sun 5 Reasons Why Blogging is the New Internet Marketing Tool -Link Building Tools