22.09.2016 - Iron Ore Prices: Will They Keep Falling?
There appears to be an almost universal expectation that iron ore prices will start to retreat soon, after surging some 62% through April. The prices have since eased back, but are still up 28% on the year. Without doubt, much of iron ore's gains in 2016 have been driven by strong demand from China, with imports up 9.3% to 669.65 million metric tons in the first eight months of the year from a year ago. But prices in Qingdao lost 5.8% in the seven sessions through Wednesday. That was the longest run of daily declines since March, and while steel output remains robust, questions are again being asked as to how much longer prices can remain north of $55 per mt as yet more supply comes on-stream..........................................Full Article: Source
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