Iron ore prices 2009
As we enter the last quarter of 2008, so discussions commence on the 2009 iron ore price level. Following on from the mid-contract 20% price rise sought for Chinese consumers by Vale just weeks ago [September 2008], industry talk at present is of a 30% iron ore price increase in 2009. This would of course follow the massive price rises of between 65% to 95% seen during 2008.
For further reports on the expected price increase, see http://www.ft.com/cms/s/0/7e5152dc-7b3d-11dd-b839-000077b07658.html
blogger@steelonthenet.com
For further reports on the expected price increase, see http://www.ft.com/cms/s/0/7e5152dc-7b3d-11dd-b839-000077b07658.html
blogger@steelonthenet.com
posted by sotn @ 10:02 AM permalink
1 Comments:
Iron ore prices should trend down for 2009. The price increase for first three quarters of 2008 is far too much for a short amount of time. Ore miners should plan for the long term rather than be greedy and only think about huge short term profits. End users will not tolerate high steel prices and will either buy less steel or look for alternative materials to replace steel that have now become cheaper.
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