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Iron Ore Prices Expected to Rise 30-50 percent in July Quarter
 
China’s steel company, China Steel Corp. estimate the world’s largest iron ore producers such as Vale, SA, BHP Billiton and Rio Tinto will demand for iron ore price increases of about 30-50 percent in the July quarter. Factors that encourage iron ore price increase due to increased demand for iron ore from steel manufacturers.
Interfax reported that iron ore mining company Vale SA Brazil, has offered the price of iron ore to steel makers of China amounted to $ 160 per ton, including shipping costs for the quarter in July. Iron ore prices offered by Vale SA increased by 23 percent from the previous quarter.

Excluding freight charges, which averaged $27.622 a metric ton this year, Vale would be asking Chinese steelmakers to pay about $132 a ton for the ore for the July quarter, based on calculations by Bloomberg. Posco, South Korea’s largest steelmaker, in April said it agreed to pay Vale $100 to $105 a ton for shipments between April and June.
Vale and Melbourne-based BHP, the largest- and third- biggest exporters of iron ore, this year abandoned a 40-year tradition of setting prices annually in favor of quarterly contracts, with the Brazilian mill winning a 90 percent increase. Steelmakers have to raise prices to pass on the higher costs, the World Steel Association said this month.
 

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  • Iron Ore Prices Expected to Rise 30-50 percent in July Quarter
    China’s steel company, China Steel Corp. estimate the world’s largest iron ore producers such as Vale, SA, BHP Billiton and Rio Tinto will demand for iron ore price increases of about 30-50 percent in the July quarter....
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    The EU crisis and global recessionary trends have dampened steel production. With lowered prices and falling demand, steel producers are looking to cut costs by shutting down unprofitable plants. According to researcher World Steel Dynamics, prices for hot rolled steel have fallen by 12% since February 2012 and a further drop in price is expected. Capacity utilization is also down to 76% from 80%. Friday, July 06, 2012 by Anthony David - Critical Strategic Metals ...
  • Steel-making capacity to go up by 30-mn tonnes in 2 years
    KOLKATA: The steel-making capacity to surge by 30-million tonnes in the upcoming two years in India as the steel ministry is currently working on a new National Steel Policy. ...

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