International iron ore price to show a continuous decline in June 2013
2013-06-05 18:02:13 【Print】
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Since the global economy is on a slow recovery path, plus the Euro crisis and the disappointing pace of Chinese GDP, the international iron ore price is on a downward trend. Chinese steel mills suffer from overcapacity, amid decreasing prices of steel products. To reduce losses, some steel mills began to undersell the extra import iron ore products to avoid risks. This action makes iron ore spot market worse to some extent, which leads directly to a more intense contradiction between supply and demand. Asian Metal’s analysts hold pessimistic attitude towards the future market and forecast the price will be lower than USD110/dt in June.
