Iron Ore Market Report December 2015
2016-01-25 18:54:39 【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 sluggish in December while downstream steel market kept running slow and most steel mills suffered great losses and cut their operation. Demand of iron ore remained weakening as a result. Furthermore, imported iron ore inventory kept increasing and the huge supply pressed iron ore prices to move downward especially in the first half of the month when steel mills stayed away from rebuilding stocks. China’s domestic iron ore mines kept cutting production in the month but depressed by the much lower prices of imported iron ore, domestic iron ore mines had to lower their prices further to attract orders from downstream steel mills though they already suffered huge losses. In the second half of the month, rebounding prices in global markets pulled prices of imported iron ore in the spot market to return to its level at the beginning of the month. But the softening demand failed to push domestic iron ore prices to rebound. Most participants are still pessimistic about the future market when they believe the iron ore market would stay slow due to increasing output and decreasing consumption in China, which may keep pressing iron ore prices at current low level or even to decrease again.
