Iron Ore Prices

Update on Iron ore, steel - June 14, 2013

With China being the world's largest steel manufacturer, Chinese steel production and iron ore requirements loom large in the iron ore market. With that in mind, Baoshan Steel (China's largest steel maker) announced that they will reduce steel prices due to lower demand. They also announced they will be reducing production of several steel lines, due to low demand. This means that iron ore requirements will reduce commensurate with the lower demand for steel.

In fact iron ore purchases Friday, 14 June 2013 were $132/metric ton ($120/standard ton), and are expected to fluctuate between $120 to $130/metric ton for the remainder of the year. Imports of iron ore the first half of this year have been averaging 64 million metric tons of iron ore per month and are expected to run from 55 to 60 million metric tons per month for the remainder of the year.

John Steely,

December 24, 2012

The projected average price for iron ore for 2013 is $120/ton, based upon the largest buyer, China's government agency.

Charles Kubach,

Iron Ore Update October 13, 2011

The iron ore market continues to plug along, sustaining prices in the $170 per ton range. It is estimated that over 1 billions tons of iron ore are exported from the country of mining. China has cooled a bit, to temper inflation, but shows strong demand into the near future. For the iron miners, profits are very good, and demand appears to sustain the market for the near term.

John Steely,

FEBUARY 19, 2010

Iron Ore prices are expected to rise during the 2010 through 2011 period. Expected price increases are anticipated to range between 10% up to 60%, in some cases, as new contracts for iron ore delivery are negotiated.

This is good news for all iron ore miners, as it will continue their growth period forward.

John Steely,

Iron Ore Prices are rarely published, due to the fact that most iron ore is used internally by steel companies, and iron ore mines that sell their ore usually do so under long term contracts, negotiated with each buyer.

June 30, 2007

China's average price of iron ore prices ranged from $97 to $113 (USD) per ton during January through May 2007 (National Development and Reform Commission (NDRC)).

In the same period, the domestic steel price also represented an average growth of 10% to $509 per ton. In detail, the average price of steel wire ($509/ton), deformed steel bar ($521/ton), medium plate($528/ton) and cold rolled steel strip ($556/ton).

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