August 28,
The recovery in industrial activities in US, EU, China, Japan, India, Russia and Brazil is good news for the Steel, Iron and Chrome ore sector. This is also evident from the increase in steel production from the lows of last year.
The President of Albanian Minerals in NY, USA and Bytyci SHPK Tropoje said that “Globally, the demand for Steel, Iron and Chrome ore has improved partly due to recovery in industrial activities in US, EU, China, Japan, India, Russia and Brazil.
“Most of the inventories of metals were depleted and people are once again buying metals, Copper, Steel, Chrome ore, Iron, Coal, Aluminum, and Nickel to build their inventories led by marginal recovery seen in the end user industries.”
Prices are not expected to move up fast as demand is yet to pick up on a sustainable basis. Steel companies also believe that only if Chrome ore, Coking coal and Iron ore prices move up sharply then prices will move higher.
Source: The Wall Street Journal
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