Iron Ore Market Report June 2011
2011-11-28 14:45:40 【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.
The domestic iron ore price has been in a downward trend since late May, although the iron ore price increased by RMB20/t in several areas after the Dragon Boat Festival, while most of the market participants expect the iron ore fines market to keep stable in the near future with the coming of the slack season in steel products market, and it might also be impossible for the uptick in the iron ore market to last for a long time. In addition, some major steel groups, such as Baosteel and Ansteel, all have successively decreased their futures prices of finished steel of July by RMB100-500/t, but the steel products market is still soft with the price fluctuating and running low, and most of the market participants are pessimistic about the market in July. As for the imported ore market, it shows the same trend as that in the steel products market. The price of imported ore increased slightly by USD2-3/t after the Dragon Boat Festival with a few more deals being concluded in the market. However, market participants are still pessimistic about the imported ore market considering the downward trend of the steel products market and the large amounts of imported ore inventories at the moment.
