Posted: September 5th, 2012 | Author: Rod Sherkin | Filed under: China, Iron ore, Steel | Tags: china, iron, steel | No Comments »
China steel futures fell to an all-time low on Wednesday as poor demand in the world’s top steel market kept the pressure on prices, sending iron ore further below $90 a tonne to its weakest since October 2009.
The most-traded rebar for January delivery on the Shanghai Futures Exchange fell to as low as 3,218 yuan ($510) a tonne, its weakest level since the bourse launched rebar futures in 2009.
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Posted: May 25th, 2012 | Author: Pascal Blanc | Filed under: China, Commodities, Iron ore, Metals | Tags: china, iron | 1 Comment »
In the last few days, Chinese customers started to either require deliveries to be postponed, or they simply refused shipments of iron or coal, mainly for the steel industry. For example, a large Chinese company postponed delivery of 6 million tons of iron.
This is the kind of Information that has a chilling effect for the three major iron exporters as China absorbs more than half of the world production. This is not the first time such a blip occurs and it could become self-sustaining. Seeing lower prices on the spot market, Chinese buyers, being savvy traders, are in no hurry to receive orders placed at a much higher price.
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Posted: October 26th, 2011 | Author: Rod Sherkin | Filed under: Iron ore | Tags: iron, iron ore, steel | No Comments »
Iron ore with 62-percent iron content fell 7.2 percent to $128.50 a tonne on Tuesday, according to Platts. It was the biggest percentage drop for the reference price index since Platts began publishing it in November 2008.
Iron ore‘s steepest ever price slide on Tuesday reflects slowing growth in top consumer China and casts more doubts on Beijing’s commodity demand at a time when the outlook for developed economies remains shaky.
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