The iron ore price has enjoyed a rise on the fourteenth day in a row,
the longest winning stretch ever. This reflects the view of market
watchers continued buying back Chinese steel mills. However, the rapid
rebound solves for the price collapse last month of caution even as
steel prices recover as quickly.
Iron mineralization
The Chinese steel mills began their stocks of raw material for steel
production to replenish after the spot price for iron ore in late
October had fallen to a 22-month low of 117 USD per ton. While the
iron ore price has risen since then by more than 26%, noting the
Chinese steel futures mostly changed very little.
Since the decline in Chinese steel production is only marginally
failed, the deep slump in iron ore prices in October, the Chinese
steel mills had caused to be active again in the market. But the
current steel prices could indicate dss demand is weak and the world's
largest consumers falls so the need for additional raw material.
The price of iron ore with a 62%-owned iron content rose last
Thursday in the 0.3% to $ 147.60 per ton, the highest since the 19th
October. In weekly view, the price thus grew by 7.2%. This is the
third week in succession rise. With the increase of 26% in the last 14
trading days of the iron ore price has risen to the current month to
nearly 25% and thus recovered quickly from the slump by 31% in
October.
