Despite the fact that China steel plants replenished the reserves of raw materials during the winter period of any jumps in demand in the market. The slow, but confident increase in the consumption of iron ore raw materials with Chinese companies raised prices to a maximum level of $ 140 per ton. This is a ceiling - according to market experts.
"Chinese demand did not fall, but did not grow, since the market is quite large on the market. The price is now really balanced," say traders from Shanghai.
The stocks of iron ore in Chinese ports last week reached the highest possible values since July last year and amounted to 84 million tons. However, the largest mining companies in the world of Rio Tinto and BHP Billiton continue to rapidly increase the level of production of iron ore raw materials and this negatively affects the mood of the market.
With such a persistent expansion of production, the prices of iron ore under the most favorable market conditions will fall to $ 95 per ton in the second half of 2015, said City Bank analysts.
"These excessive proposals, combined with a slowdown in production growth, will only increase in 2015 and 2016," the City Bank said in a new report.
Spot prices for iron ore in China are ready to start moving down
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Azovpromstal® 19 November 2013 г. 12:53 |
