iron price per kg
iron price per kg
Fell and China's imports of iron ore again immediately after recovery did not last long after the beginning of this month, Holidays Chinese New Year with the arrival of Indian iron ore minutes to net $ 146 a tonne, down from $ 151 ton.
Observers said the global market, according to the Arab Union for Iron and Steel that perhaps iron ore prices will fall further given the current weakness in the Chinese market, which led to the reluctance of some Asian and Chinese traders from participating in tenders last.
According to the International Federation of steel production was the world's crude steel 116,675,000 tons during the month of January 2012, a decline of 7.8% for the production of January 2011, reflecting weakness in global demand during the current period. Production fell by 11.4% Asia, China was more countries fell by 13%, followed by Japan, down 10%, followed by South Korea increased by 9%. The EU production fell by 5.6% due to lower production of most EU states, but set the other European countries has decreased production by 11.3% compared to January 2011.
According to new data to the global market that stocks Chinese ports of iron ore is still high at a checkpoint 90 million tonnes and steel mills are still not confident of steel market scene as far as a suspension of iron ore traders in the capital Beijing.
A source in Shandong Hwachsan Industrie he believes that there is limited space for iron ore prices for the drop in China's useful that the price of 138.5 dollars per ton was largely reasonable, compared to $ 140 per ton for a few minutes the Australian iron ore net by 61.5-62%.
And follow Saudi factories global developments closely, where the price of reinforcing steel in the Saudi market up to 2900, equivalent to 773 dollars per ton in spite of booming demand for steel, due to booming demand for steel in the Saudi market because of the projects set up by the state and accelerated activity of the private sector in the field of construction. It is estimated that the iron industry in the Kingdom is the fastest-growing compared to similar markets in the Middle East a growth rate of 10.5 per cent a year. It is expected to reach the increased demand in 2012 about 12 per cent of the increase in government spending and housing projects, and to exceed domestic demand, 7 million tons, while not to exceed domestic production to 5 million tons, and there are million tons are imported from abroad to cover the requirement of iron in the projects. steel prices locally maintained stability in 2011 and 2012