The price of iron ore reached a three -month minimum

Traiders united in an effort to knock over high prices for iron ore. Against the background of cool purchases by China, the concern of raw material bosses in Riotinto and BHP Billiton is growing. The weaker than the restoration of the economy of Southeast Asia was worshiped, many steel companies in the region made unprofitable companies, slowing down the purchases of key raw materials.

The representative of the Chinese Metallurgical Plant said that "Spotal 1 transactions are very few. Record processing steel in the absence of demand limited the financial capabilities of steel factories that have recently encountered a lack of working capital. Therefore, they do not plan any large acquisitions in the near future."

In accordance with Steel Index, iron ore prices with a content of at least 62% of iron over the past week decreased by another 0.5% and reached a three -month minimum of $ 132 per ton. At the same time, market participants limit the purchases of iron ore raw materials awaiting further prices.

"Iron ore next week will cost 125 - 130 dollars per ton," says Shanghai trader Yong Jong. "The price will fall until we see the increase in demand for metal rolling."

Concerned about the prices for iron ore raw materials brought up the cost of Rio Tinto by 3.7%last week, and the shares of BHP Billitonna in London lost about 3%.


1 A spa transaction (from English spot - in place) is an urgent trading operation in which payment for the transaction is carried out immediately (as a rule, within two days). STOT transactions are also called cash or cash register. The price of the spot (from the English spot price) is the price at which real goods, securities or currency are sold at this time and in this place on the basis of immediate delivery.