Iron ore prices continued their downward trend on Tuesday amid continuing fears that the looming environmental contraction in China's steel production will reduce demand for steel raw materials.
Ore with 62% iron in Qingdao port fell 2.6% to $ 61.01 per tonne. The best-selling iron ore on the Dalian Commodity Exchange fell 2% per tonne, the weakest level since July 6.
This means that Australian iron ore contracts in January 2017 are at their lowest level since mid-July at $ 59.1 per tonne. A further drop to $ 50 /t is projected by 2019 as China also plans to revoke about a third of its licenses, mostly owned by small pollutants.
At the same time, shipments from Australia, the world's No. 1 iron ore producer, increased, further affecting prices.
Iron ore dangerously close to $ 60 per ton
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Azovpromstal® 11 October 2017 г. 10:39 |
