Save
Print[Ferro-alloys.com]Price of iron ore slipped sharply again over the weekend as concern mounted about demand from Asian steel mills.
Prices fell to $US128 a mt from $US135.90 at the previous close, according to data compiled by the Steel Index.
The price is set at the Tianjin Port in China.
Iron ore prices have been volatile over the past six months, falling to a low of $US86.70 in September but soaring to a high of $US160 a mt early this year.
Prices have fallen by about 20 per cent in a little over a month, setting a bearish tone for iron ore miners in the second quarter.
While several miners, notably Fortescue Metals, have restarted projects put on ice late last year, others such as Atlas and Mount Gibson are continuing to take a more conservative approach to spending.
Miners are pulling back on exploration but mid-cap operations are also eyeing the expansion of existing mines to try to quickly build economies of scale and build cash flows.
Copyright © 2013 Ferro-Alloys.Com. All Rights Reserved. Without permission, any unit and individual shall not copy or reprint!
- [Editor:editor]
Daily News
Research
Magazine
Company Database
Customized Database
Conferences
Advertisement
Trade
Online inquiry
Contact
Tell Us What You Think