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Home Steel News Iron ore price to soar again as big demand from China
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Iron ore price to soar again as big demand from China

22 Mar 2007 14:51 reported by Ben Wang

A A A
As supply of iron ore is short than expected, the Indian government has imposed more restrict limiting for exports.

Now the price of iron ore is expected to rise again, that will benefit BHP Billiton, Rio Tinto and some other small mining companies.

The price of iron ore had increased by 120 percent over the past four years.

In January, China has imported some 35.85 million tons iron ore, increasing by 35 percent compared than the last month.

To protect the domestic steel manufacturers' profit, the Indian government has increased the iron ore export tax by US$7 per ton.

The above reasons have caused the tense of the iron ore supply, therefore it will push the price increasing again.

Back to Steel News

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