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Home Steel News Iron ore prices set to raise further
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Iron ore prices set to raise further

4 Mar 2010 17:11 reported by Judy Lin

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According to China Daily report, global miners are currently offering Chinese steelmakers a 50 percent rise in iron ore prices; however, analysts disregarded the reports and expected the rise will be about 65 to 75 percent.

China’s iron ore imports have increased to 42 percent to a record 628 million tons last year to fulfill the larger demand. However, since the spot iron ore has been traded more than 50 percent since last September, most analysts looked at 50 percent hike as a low rise level.

The spot iron ore prices are trading around US$134/ton, which is doubled from the 2009 level.

BHP Billiton is currently talking about the length about the different between spot and annual prices and may seek for the coverage of contract price and spot market price. However, the company does not comment about its pricing policy.

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Metal Price Index

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  • Created with Highcharts 4.0.41. Jun1. Jul1. Aug25002600270028002900
  • Created with Highcharts 4.0.41. Jun1. Jul1. Aug23002400250026002700
  • Created with Highcharts 4.0.41. Jun1. Jul1. Aug900092509500975010,00010,250
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