Monthly Iron Ore Market Report Nov 2018
2018-12-12 19:21:58 【Print】
The following is a brief synopsis of the report. Your access is restricted as it is a subscription based service.
Please contact us for a subscription.
Please contact us for a subscription.
Iron ore market stayed firm in the first half of the month when demand was active from downstream steel mills. Environmental protection pressure was low in the month and steel mills maintained high operation rate. The strong demand pushed iron ore prices to record high level within this year. However, entering the second half of the month, iron ore prices quickly slumped depressed by the rapidly dropping prices of steel products. Steel mills became very reluctant to restock iron ore seeing the quickly decreasing profits of steel products. By the end of the month, as steel mills started facing losses, insiders believed steel mills would have to cut operation in the coming December to avoid larger losses. In the meanwhile, the worsening air condition in North China during heating season may also force steel mills to cut operation rate. Decreasing demand would force iron ore prices to slide further in December.
