Friday, November 26,
Spot iron ore prices remained unchanged with buying interest not so strong
Sesa Goa sold its 63.5/63 cargo at 169.50 CFR China this week
Iron ore contract prices might go up by 7% in the first quarter of 2011. Contract prices almost doubled in the April quarter and gained more than 20 percent in the July-to-September period before falling 13 percent in September-to-November.
“Steelmakers will face pressure from higher costs and eroding profits in the first quarter,”said, Xu Xiangchun, chief analyst with Mysteel Research Institute. As a result steelmakers in China might feel the need to raise prices in order to pass on higher raw-material costs as demand slows in winter.
Leave a Reply